Tuesday, January 26, 2010

Should trend Predominatly long for days. Final Move!

Okay, This morning I am posting two charts. The first shows what I believe to be an (x) wave triangle that began on Aug 5th 2009 and completed Jan 22nd 2010. Triangles preceed the final actionary wave. The second chart shows the first and second waves after the triangle completion. I have labled them A and B (they may have to be changed to 1 and 2 later, only time will tell). If this is correct, over the next several days or even a couple of weeks, the Sterling should move long in 5 waves. This movement should take it close to 1.6700. Please keep in mind, because this is a post triangle movement, once it is complete, the long trend that began in Jan 2009 will end. Over the next year or more then trend in the GBP will become short.



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