Sunday, December 21, 2008

Gbp vs Jpy 1H, 4H & Daily Pre Market Overview


Chart 1H - At this moment, please analyse all alt counts and advisable to wait for any breakout to determine which alt count is more favourable.


Chart 4H - At this moment, I'm looking forward for a valid diagonal triangle and tiple bottom pattern which will bolster the bullish reversal trend scnario. Otherwise, a further breakout to the lower red trendline and later to the major bearish continuation critical line would favour to the alt count in magenta.


Chart Daily - At this moment, I'm looking forward for any breakout from the yellow diagonal triangle pattern to determine which alt count is more favourable. Preferably, I'm looking for any possibility towards the bullish reversal trend scenario.

Summary :

1) A valid diagonal triangle pattern and a triple bottom pattern would bolster the bullish reversal trend scenario.

2) Otherwise, if the major bearish continuation critical line is taken, then preferable we shall see a bearish continuation trend referring to the alt count in magenta.

3) But please be careful for any bearish trap or "throw-over" scenario.

Good luck.

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