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.
Monday, January 4, 2010
Short Correction Over?
It is starting to look like a possibility. It looks like my min retracement line may not be meet. It looks like it is starting to trace a small first and second wave long and it is breaking out of the retracement channel. When the Asian markets open this thing may just start going long early in the session. Be on gaurd. Min long expectation is 1.6235 but 1.6330 might be a real possibility. No chart.
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