Daily GBP/JPY analysis

I'm looking forward for a bearish continuation later to complete subwave 3 (yellow) before expecting any retracement to perform corrective subwave 4 (yellow). Please noted that alt count in white is already invalid. But please be careful for any upside movement. If the price bounce and break the bottom of subwave 1 (yellow), the bearish subwave count would be in doubt. Good luck.

p/s - just as reminder to "Sell Top, Buy Bottom"

I'm looking forward for bearish continuation to complete major corective wave C (yellow or magenta). A further breakout to the bearish continuation critical line 2 and 3 would bolster this scenario. Otherwise please be careful for any upside movement and any true breakout to the white critical line. Good luck.

At this moment, I'm looking forward for a completion of retracement subwave 4 before expecting another bearish continuation to complete subwave 5 and wave iii (yellow). But please analyse possibility towards the new alt count in white to perform corrective subwave a, b and c. Therefore, please monitor from BSTS for any bearish continuation entry signal later. Good luck.

Please analyse all new rectangle zones and determine which is the possible trend or where is to make an entry from your trading system (BSTS). Preferably, I believed market will perform a bearish continuation later but don't forget about the possibility for the alt count in white to be happen later. Advisable to monitor any good bearish continuation entry signal from BSTS 2 & 3 later today. Have a nice day.

At this moment, please be noted that the bearish continuation scenario in critical stage. Please study all the latest re-count waves and I believed if the price continue further upside and break the yellow critical line, advisable to stay out from the market until next week. Its more likely the corrective a, b and c already completed (magenta) and preferably looking forward for a new set of waves to begin either a bullish or a bearish wave count. Have a nice day.

Let us know the outcome, Jebatfx.

nope.....do a recount!!

I cannot read your chart..too many lines there i guess?

At this moment, I divided the market into 3 possible scenario (alt counts), which is :-

1) Magenta Count - a truncated wave 5 scenario and expecting to perform a corrective a, b and c later.
2) Yellow Count - another truncated of wave 5 which perform a double top to complete major corrective b.
3) White count - a strong impulsive bullish trend to perform wave 3.

Therefore, please analyse all alt counts with your trading system (BSTS) and determine which one is more preferable. Happy weekends.

How do you think about this wave label in GBP/usd ?

Gbp vs Jpy 1H, 4H & Daily Pre Market Overview

Chart 1H - Please analyse all possible alt counts and determine what is your trading strategy for next week. Preferably, I'm looking for a bearish reversal trend either to the yellow or magenta. Please be noted that if the double top is valid, then favourably market will perform a truncated wave 5 (yellow). Otherwise if this bullish continuation line 2 is taken, then we may see a trend to complete either refering to the alt count in magenta or white. Please confirm your entry from BSTS signal.

Chart 4H - Preferably, I'm looking for a completion of subwave 5 and b (yellow) before expecting a bearish reversal trend to complete corrective wave C (yellow). A valid double top pattern would bolster this scenario. Otherwise if there is a true breakout to the bullish continuation line 2, this scenario would be invalid.

Chart Daily - At this moment, market in the phase either to complete subwave ii (magenta or white) before expecting for another bearish reversal trend or to complete subwave v (yellow). If level 213.87 standing as a strong resistance, then we may see a bearish reversal trend. Otherwise if this line is taken, then preferably market in the process to complete subwave v and wave C in yellow.

Summary :

1) I'm looking for a bearish reversal opportunity either to the alt count in yellow or magenta. An establishment of a "double top" pattern would bolster the alt count in yellow.
2) Otherwise if the bullish continuation line 2 is taken, then preferably market either to complete subwave v (magenta) or subwave 3 in white (TF 1H & 4H).
3) Please be carefull for any bullish trap scenario.

Good luck.

Extra tips : Please also analyse wave structure in Eur/Jpy and look for any possible entry signal from BSTS.

p/y looks as if she's ready to break out if we can stay above 212.50 she just may pop

from looking at the daily chart, if price can break the strong resistance at 214.00 level, good chance it will head towards 219.50 level. That is a weak resistance level that coincides with 138.3 extension fib of the move from 5/09 low @199.75 to the high on 6/[email protected] resistance is at 222.00 level which is the 161.8 extension.
Looking at a weekly chart, the 38.2 retacement from the high on 7/20/07 to the low on 3/21 08 comes in around 214.70 level. weekly chart shows oversold levels on oscilators. All in all, 214.00 levels will be important for a trade.
Attached is a daily chart and a weekly chart.

I'm looking forward for a further breakout to the lower red trendline to bolster the "double top" pattern and a bearish reversal trend scenario refering to the alt count in yellow. A strong resistance at the bullish continuation line 2 would favour this point of view. Otherwise, if we found any true breakout to the bullish continuation line 2, this scenario would be invalid. Therefore please watch closely both critical lines which is the bullish continuation line 2 and the bearish reversal bias line. Please be carefull for any bullish trap scenario. Good luck.

Its wrong, try to count the subwave 1st, properly.

subwave 1 ? what is wrong ? it is all elliott rules

At this moment, please analyse the alt count in yellow and magenta. Please look carefully at the horizontal triangle corrective pattern (ascending triangle) in yellow. If this pattern is valid, then most probably market in the process to perform a corrective abcde in magenta before expecting for another bullish continuation to complete wave 5 (magenta). Otherwise if the price make a true breakout to the lower yellow trendline and further until the bearish reversal bias line, then preferably market in bearish reversal trend refering to the alt count in yellow. Good luck.

Price already reached to the lower yellow trendlines. So either price already completed the corrective subwave e and wave 4 (magenta) before another bullish continuation to complete wave 5 (magenta) or we will see further downside movement to complete subwave c and wave 1 (yellow) for bearish reversal scenario. Therefore please determine which count is more preferable later from any breakout and BSTS signal. Good luck.

once again the level to watch 212.50 a buy here with a stop below yesterdays low around 212.15. yesterdays buy was at 212.75 it was was good for approx 70 pips lets see if this will work one more time but first we need to get back down to this level

If you look close enough, you'd see that for the past couple days, the market is very unreliable. You can draw all conclusions you wish but some of you will end up short change. But with luck and right line drawn, some of you will bring in a fortune. Good luck to everyone!