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Monday, May 10, 2010

GBPUSD Hour 4

This is GU wave analisis at hour 4 timeframe, as the wave is in downtrend following the daily wave analysis, but there must be a corrective wave that correct the impulse wave. If the wave [3] in the figure has been finished, then the wave 4 in coming. The target area of wave 4 is in 31.8% of wave 3 and it has been fulfill as in the figure. Considering that wave 4 has the capability to make a sideway wave, then the target area of wave 5 is as shown in the figure
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