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, March 2, 2010
Its not a triangle
So, the next likely scenario would be a double 3 correction. More specifically a flat to a zigzag. I think a good stopping area for this formation will be about 1.5080. And then I still expect it to make a new low.
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