Tuesday, August 24, 2010

Gbp vs Jpy 1H & 4H

Gbp vs Jpy (1H) - At this moment, I believed market in progress to complete subwave 4 either in white or magenta before expecting for another bearish continuation trend scenario. A pullback from the fibo critical lines and follow by a breakout to the yellow critical line would bolster to this scenario. Otherwise, we may looking for a bullish reversal trend scenario refering towards the truncated subwave 5 in yellow.

Gbp vs Jpy (4) - Favourably, I believed market only in bullish retracement trend scenario and once its completed, I'm looking forward for another bearish contiuation trend scenario either to perform a "double bottom" pattern of subwave 5 in white or in magenta. Good lucks.