Tuesday, March 22, 2011

Gbp vs Jpy 1H

Preferably, I believe the bullish trend is already exausted and therefore, I'm looking forward for a potential of bearish reversal trend scenario either refering to the alt counts in aqua or yellow. A valid diagonal triangle pattern and a breakout toward the lower red trendline would bolster to this scenario. Otherwise, we may see a potential of "bull trap" pattern later. Good luck.