Monday, November 2, 2009

Gbp vs Jpy 1H & Daily


Chart 1H - Preferably, I believed market will perform a bearish continuation trend to complete subwave 5 in cyan. A breakout towards the lower red trendline would bolster to this scenario. Otherwise, please be careful for any breakout towards the upper green trendline.


Chart Daily - Favourably, I'm looking forward market to perform a major wave 3 in magenta. Otherwise, please be careful for any bull rally and any breakout to the major upper green trendline which would indicate that perhap major wave 2 still in progress (white) or market already in bullish reversal trend to complete major wave a in yellow (truncated scenario). Good luck.