Tuesday, August 12, 2008

Gbp vs Jpy 1H Update #1


Please be noted that due to the further bearish continuation trend, the previous alt count in white and the proposed corrective abcde is already invalid. I'm still looking for a bullish retracement phase to complete subwave iv once subwave iii (yellow or magenta) is completed. But please careful since there is a good possibility the market will be in bullish reversal trend according to the alt count in white. A "double bottom" pattern would bolster this scenario. Good luck.

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