Tuesday, January 18, 2011

Gbp vs Jpy 1H

At this moment, please be noted that the previous alt counts in aqua and white is already invalid. Preferably, I believe market just performed a "bull trap" scenario either to complete major wave 5 (yellow or aqua) or major wave 3 in white. Therefore, I'm expecting market to perform a bearish trend either a reversal (aqua or yellow) or only a retracement (white). A breakout to the pivot critical line would bolster to this scenario. Please be careful for another bullish trend either to complete subcorrective wave b in aqua/yellow or major wave 5 in white. Good luck.