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Monday, July 20, 2009
Gbp vs Jpy 1H & Daily
Chart 1H - Please be noted that due to the upside trend, therefore I need to do a recounts towards the previous alt counts in yellow and white. At this moment, I believed market in progress to perform wave 2 either in white/yellow (truncated subwave 5) or magenta (impulsive subwave 5/diagonal triangle pattern) before expecting for another bearish continuation trend scenario. Therefore, please confirm either subwave 5 will be a truncated or impulsive from BSTS later before making any short entry. Otherwise if the white/yellow/magenta critical line is taken, all this counts would be invalid.
Chart Daily - Preferably, I believed market in progress to complete subwave 2 in yellow before expecting for another major bearish continuation trend to complete subwave 3,4 and 5 in 5/C. Otherwise, please be careful for any breakout towards the white/yellow critical line that would bolster towards the alt count in magenta. Good luck.
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