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.
Friday, December 18, 2009
Wave {ii} Retracing over?
Looks like three solid waves long may be just about finsihed. May finish up around 1.6150. The question is, "will that be the end of {ii} or will it become a more complex correction longer" Don't know. Only time will tell but I am comfortble getting in short at 1.6150. That will let me take profit from a short B wave retracement or I am willing to let it go against me with the confidence that it will turn short soon begining wave {iii}.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment