Sunday, January 31, 2010

Revision of last post

The aforementioned confirmation point is not correct. I believe the GBP will move long into the 1.6000 to 1.6020 zone and then move short to 1.5888 to complete wave c (circle) of the triangle. From there it has the potential to resume the next long leg that will be labled d (circle).   Again, if it breaks 1.5706 before moving long the triangle formation is invalid and the short has begun in earnest.

No comments:

Post a Comment