Momentum: Bullish with bearish divergencePattern: Possible of Wave E of Complex Correction.
Price: A significant resistant exist at 146.44-146.75 where both 0.618 Fibonacci Retracement and 0.618 Fibonacci Expansion cluster together within a very tight range.
Short Term Strategy: Stay away from GBPJPY. The elephant is still in consolidation/indecision phase.
Long Term Strategy: If the 147.05 High of 22 Dec 2009 has been completed/confirmed as Wave E of Complex Correction, then we will see a continuation of impulsive wave where the bear will soar....
If the High of 22 Dec 2009 is taken out...do nothing...wait for another confirmation for bullish trend
just my 2 cents...
trade at your own risk for those who read my analysis..
Posts
No comments:
Post a Comment