Wednesday, May 19, 2010

Gbp vs Jpy 1H


At this moment, a significant breakout from either the magenta critical line or yellow/white critical line is necessary to determine either we shall see a truncated scenario (bullish reversal) refering to the alt counts either in yellow or white ; or an impulsive scenario refering to the alt count in magenta. A valid diagonal triangle reversal pattern would bolster to the alt counts either in yellow or white scenario. Otherwise, a breakout to the strong support 129.66 would favour to the major bearish continuation trend scenario in magenta. Good luck.