Two different counts here with slighty differnet outputs.
On H1 there is a Double Three wave 2 count with latest wave labeled as wave 3. Right now the price is looking for a levet to retrace to - then one more to the upside possible. Probably this wave 4 will be simple correction because wave 2 was complex time consuming Double - Three.
On H4 chart there is a Triangle count for comparasion. In this count the latest wave up was the wave 1 of more impulsive development to come. Please notice that wave 2 Triangle pattern is very rare but this one fits very nice.
Entry levels on charts. Use Tight Stops!
Take care,
Seb
Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gbpjpy-h1-h4-update-tpi.html
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