At the H4 chart as a continuation of previous review from February 10, 2008 there is a detailed marking of terminal figure of Triples Combination with a basic cycle of one day of market data optimization.

The events of previous week did not have strongly marked key moments and did not bring in additional information either to confirm main marking version or mark its head-hunting. As before for the variant of Triples Combination as the second figure there are only two variants of formation of Flat Correction or Non-Limiting Contracting Triangle.
As a result rate’s movement within the range of the week before last one and the attainment of minimal targeted level for the development of [b]-wave were the reasons to shift accent in favor of chart with shorter time interval of data optimization and revaluate possible structure of wave [a] development.
The particularity of existent marking version is that [a]-wave is a formation of Double Combination with a terminal Triangle’s figure with Reverse Alternation Triangle. The properties of this figure are the following sufficient smallness of (B)-wave and low dynamic breakout of basic line (B)-(O) that make problematic this figure for its timely identification. As a result further outbreak has almost attained 161.8% of (D) wave and at present on condition of identification’s correctness of this figure we can confirm the beginning of wave [b] development.

Having resumed the above observations as before we have grounds to plan long positions but for risks’ reduction it is recommended to wait for additional confirmation for identification by type of forming second figure of Triples Combination and more exact calculation of time and level of its completion.
To my mind in the second figure of Triples Combination the formation of Non-Limiting Contracting Triangle with a possible drift of concurrent lines with a direction to the main trend is very possible and the best and more reliable entrance tactic will be calculations at a break of attained tops for less time than it is needed for further rate correction.

Here You may also find current Technical and Fundamental Analyses

With respect,
analytic
Forex Ltd

Attached Images

razm.jpg (29.5 KB, 1 views)