This blog is dedicated to my analysis of the GBPUSD currency pair. My primary analysis tool is Elliott wave theory in combination with a proprietary moving average (Jurik JMA) and a custom MACD setting. I make updates as warranted. IMPORTANT NOTE: I use a dot in front of the number or letter to denote the character is in a circle, per correct wave notation.
Tuesday, December 15, 2009
Triangle for B?
As I watch this B wave develop it is starting to look like there is a possibility that it will play out as a triangle. If that is the case, it may not even meet my minimum expectation before taking of long. At this time a break of 1.6280 would confirm the long is in place. That point may be lowered as the structure develops. You can probably see the structure best on a 30 or 45 min chart.
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