Monday, June 16, 2008

Gbp vs Jpy 1H


At this moment price already make an upper breakout of the horizontal triangle EW corrective pattern (ascending triangle) and favourably looking forward for a bullish continuation refering to alt count in yellow. A true breakout to the bullish continuation line 1 would bolster this scenario. But please be carefull for a "bullish trap scenario" refering to alt count in magenta. Advisable to wait for a short entry after completion of wave 5 (magenta or yellow). Therefore please analyse a completion signal of wave 5 from BSTS before making any short entry. Good luck.

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