Wednesday, June 29, 2011

Gbp vs Jpy 1H

At the moment, I'm looking forward for a completion of bearish retracement trend scenario either refering to the alt counts in white, yellow or aqua. A bounce from the lower red trendline and follow by a breakout to the bullish continuation critical line 1 and 2 would bolster to the alt count in white scenario. Otherwise, I believe we may see another bearish retracement trend scenario to complete corrective wave b in yellow (Fr 50%-61.8%) or aqua ("Double bottom"). Good luck.