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Wednesday, July 15, 2009
Gbp vs Jpy 1H & Daily
Chart 1H - Please be noted that I need to do slightly recounts due to the upside trend. Favourably, I believed market in bullish retracement trend to complete wave 2 before expecting for another major bearish continuation trend refering to either the alt count in yellow, magenta or white. At this moment, I'm looking for any opportunity towards the alt count in yellow. Otherwise, please be careful for any breakout towards the upper green trendline. Advisable to look for any bearish entry signal from BSTS later.
Chart Daily - As long the white/yellow critical line is remain intact, I believed market will perform another major bearish continuaton trend to perform wave iii once wave 2 is completed (yellow). Otherwise, if the line is taken, then perhaps we may see another bullish rally to complete major wave 4 in magenta before expecting for any bearish continuation trend. Good luck.
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