Tuesday, April 19, 2011

Gbp vs Jpy 1H

At the moment, a strong breakout to the bullish continuation critical line 1 is still yet remains to be seen to determine for any potential toward another bullish continuation trend scenario either refering to the alt counts in white or magenta. I believe right now market in favour to perform another bearish continuation trend scenario either in yellow or aqua. A valid "rising wedge" pattern, a pullback from the upper green trendline and follow by a breakout toward toward the pivot and S3 critical line would bolster to this scenario. Good luck.