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Figure G1.Wave counting on the daily chart. Variant 1.
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Downward impulse A? may be completed. In this case the weakening of the pound may be synchronous with the other currency pairs under consideration.
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Figure G2. Wave counting on the daily chart. Variant 1-2.
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But it isn’t ruled out that only wave [iv] of A is completing. In this case forming of a downward ending wave [v] in the shape of an impulse or a diagonal triangle should be expected.
For more detailed wave counting on smaller time-frames and parameters of possible trading plans refer to daily reports.
Reference
Dmitry Voznuy
forDmitry@yahoo.com
March 2, 2008
When using any part of the article for publication or analytical materials reference to the author and Alpari IDC Corp. is obligatory.
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