It’s look like a head and shoulder pattern isn’t? According to my counting, wave b is completed and should go down to complete wave C on 1 hour timeframe. And the price should go through the blue line on that chart.
Update: I closed half of my position with 62 pips and the rest with 1 pip stop loss.
GBP USD moves as expected this morning, I already got 120 pips from last week positions. GBP USD must have some correction before it continue downwards, at least sub wave 4 then sub wave 5.
About meHello, my name is Earnic. A full time forex trader and part time blogger from Malaysia. Love WordPress so much, and so comfortable using Instaforex for my trading.
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[...] EUR JPY 12/7/2010. by atoqa on July 12th, 2010. It’s look like a head and shoulder pattern isn’t? According to my counting, wave b is completed and should go down to complete wave C on 1 hour timeframe. And the price should go through … View full post on EUR/JPY – Google Blog Search [...]