Thursday, January 20, 2011

Gbp vs Jpy 1H

At this moment, market already performed a strong bullish continuation trend scenario. Preferably, I believe market in progress to complete subcorrective wave b either in aqua or yellow before expecting for a bearish reversal trend scenario to complete subcorrective wave c. A pullback from the R3 critical line and follow by a breakout toward the pivot critical line would bolster to the alt count in aqua scenario. Otherwise, please bear in mind that we may see a "bull trap" scenario to complete a "double top" of subcorrective wave b in yellow or further bullish continuation trend scenario to perform the incomplete of major wave 5 in white. Happy weekend and good luck.