Thursday, May 8, 2008

GBP/JPY UPDATE








First chart is GBP/JPY now. It has done what I expected it to do 2 days ago (see archive). I haven't taken a position on this because I planned on shorting this for long term swing. Its still a to-watch.


The second chart is its condition 2 days prior.


Third chart is long term chart indicating elliot wave theory principle. I really like the way this

looks and maybe should have not hesitated a couple days ago, but, I am not as familiar with this pair as I am with the rest of the majors.



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