Monday, November 22, 2010

Gbp vs Jpy 1H

At this moment, market already break the lower yellow channel trendline. Favourably, I believed market in progress to perform a bearish reversal trend scenario to complete corrective wave C either in aqua, white or yellow. But, please be noted that market have to perform a bullish retracement trend scenario either to perform subwave 2 in aqua or corrective wave b in white. A bounce from the aqua/white critical line would bolter to this scenario. Otherwise, we may see an extension of corrective wave a in yellow. Good luck.