dojitrader
Short

Where Will B Complete . . . ???

FX:GBPJPY   British Pound / Japanese Yen
93 3 2
From the top around 175 the correction since seems incomplete
and needs at least 1 more leg down. If I'm right it should be a
strong downside C leg for pretty good profit.
However, the completion of b seems rather elusive.
If b repeats itself and almost touches the . 618 retracement that
expands the price range yet, to get there would make the time factor jive.
Thinking of the principal of alternation, perhaps, b will also subdivide
into an a-b triangle-c and complete at the .618 matching
time but not price range.
I'll keep an eye on the candlesticks and if we get near the fib
perhaps the structure will continue giving clues.
Where will b complete ?????
Looks like ALL of the yen pairs have left me and the FOMC
sleeping at the switch, so to speak.
This one, however, has the possibility of larger 5-3-5- a-b-c-zig zag.
a shows 5 waves down b is in progress with a 5 wave c back up
into the measured move. Should that be the case I'll sell the new
measured move it produces.
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dojitrader dojitrader
5 waves DONE --- not down ~
Reply
If this moves up from here we might a pretty good clue as
to where b will end --- at least the harmonics will be very
much in play. If not we have seen the high.
snapshot
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