Thursday, August 4, 2011

Gbp vs Jpy 1H




Preferably, I believe market in bearish retracement trend scenario to complete subwave 4. Therefore, I'm expecting market to perform another bullish continuation trend scenario either to complete a truncated of subwave 5 (yellow or aqua) or an impulsive subwave 5 (white). A strong bounce from FR 61.8% critical line would bolster to this scenario. Otherwise, please be careful for any breakout to the bearish continuation critical line 1 and 2. Happy fasting weekend and good luck.