Wednesday, December 30, 2009

Ext 3rd and 5th of (c) ?

Well the GBP hit my minimum projection and then some. At the moment it looks like the long move labled (c) has an extended 3rd as well as 5th wave. I think this long move has a bit further to go but when it stops if the 5th is indeed extended I expect it to retrace back to 1.6002. This will likely be a 38% retrace of the long move. From there, I think it is possibile for some sort of triangle to form but it is too soon to call that.


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