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Daily GBP/JPY analysis

  • #14,581
  • Aug 11, 2008 11:46am Aug 11, 2008 11:46am
I'm looking forward for a market to perform a corrective a,b,c,d,e (cyan) and subwave ii (yellow) before expecting for another bearish continuation to complete subwave iii (yellow). Otherwise we may see a bullish reversal according to the alt count in white. Good luck.
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  • #14,582
  • Aug 12, 2008 5:11am Aug 12, 2008 5:11am
Looking at the signal, it might even get lower. Watch out for this one!
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  • #14,583
  • Aug 12, 2008 9:11am Aug 12, 2008 9:11am
Please be noted that due to the further bearish continuation trend, the previous alt count in white and the proposed corrective abcde is already invalid. I'm still looking for a bullish retracement phase to complete subwave iv once subwave iii (yellow or magenta) is completed. But please careful since there is a good possibility the market will be in bullish reversal trend according to the alt count in white. A "double bottom" pattern would bolster this scenario. Good luck.
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  • #14,584
  • Aug 12, 2008 9:03pm Aug 12, 2008 9:03pm
Until this moment, market still in strong bearish continuation either to complete subwave iii in white, yellow or magenta. Therefore please be extra careful if you are plan to make a bullish retracement entry. Advisable to wait a confirmation from BSTS 2 tf 4H for any retracement entry. But also be careful for any subwave iii extension scenario. Overall trend is Bearish, therefore please analyse your trading strategy and wait for a very good entry signal later. Good luck.
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  • #14,585
  • Aug 13, 2008 12:49pm Aug 13, 2008 12:49pm
Until this moment, market still in strong bearish continuation trend and I'm still looking for any sign of bullish retracement once subwave iii (yellow or magenta) is completed. Advisable to be wait for a very good retracement signal if you plan to make a retracement entry. Therefore please analyse all possible counts (white, yellow or magenta) and plan your next entry strategy. Please confirm it from BSTS later. Good luck.
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  • #14,586
  • Aug 13, 2008 8:37pm Aug 13, 2008 8:37pm
Quoting Jebatfx
Until this moment, market still in strong bearish continuation trend and I'm still looking for any sign of bullish retracement once subwave iii (yellow or magenta) is completed. Advisable to be wait for a very good retracement signal if you plan to make a retracement entry. Therefore please analyse all possible counts (white, yellow or magenta) and plan your next entry strategy. Please confirm it from BSTS later. Good luck.
thx jebat,
ready for short already.......
at last i`ve found a holygrail........
  • #14,587
  • Aug 13, 2008 8:38pm Aug 13, 2008 8:38pm
At this moment, I'm looking forward for a bullish retracement or corrective phase a,b,c (cyan or white) either to complete subwave iv (yellow) or major wave 4 (white) before expecting for another bearish continuation. Otherwise this scenario would be invalid if there is a further true breakout to the bearish continuation line 8 (magenta count). Please confirm any entry from BSTS later. Good luck.
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  • #14,588
  • Aug 14, 2008 11:51am Aug 14, 2008 11:51am
At this moment, I believed market in bullish retracement either to complete subwave iv (yellow) or wave 4 (white) before expecting for another bearish continuation either to complete subwave v in yellow or wave 5 in white. Otherwise we may see a bearish continuation to complete an extension subwave iii in magenta. Good luck.
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Click to Enlarge Name: gj1hb.gif Size: 48 KB
  • #14,589
  • Aug 14, 2008 10:39pm Aug 14, 2008 10:39pm
I'm looking forward for a completion of corrective subwave iv (magenta or yellow) or corrective subwave c in 4 (white) before expecting for another bearish continuation either to complete subwave v and major wave 3 (magenta or yellow) or major wave 5 (white). Therefore, advisable to wait for a bearish continuation entry signal from BSTS later once the bullish retracement phase is completed. Happy weekends and good luck.
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  • #14,590
  • Aug 15, 2008 12:00am Aug 15, 2008 12:00am
Quoting Jebatfx
I'm looking forward for a completion of corrective subwave iv (magenta or yellow) or corrective subwave c in 4 (white) before expecting for another bearish continuation either to complete subwave v and major wave 3 (magenta or yellow) or major wave 5 (white). Therefore, advisable to wait for a bearish continuation entry signal from BSTS later once the bullish retracement phase is completed. Happy weekends and good luck.

very colorful chart
Greed Kills
  • #14,591
  • Aug 15, 2008 10:34am Aug 15, 2008 10:34am
At this moment, market already touched the upper yellow trendline. Either corrective abcde in subwave iv (magenta) is already completed and we shall see a bearish continuation to complete subwave v (magenta). A true breakout to the lower yellow trendline would bolster this scenario. Otherwise we may see another bullish retracement continuation to complete subwave iv in yellow or wave 4 in white. Good luck and have a nice weekends.
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  • #14,592
  • Aug 17, 2008 11:48pm Aug 17, 2008 11:48pm
I'm looking forward for a completion of subwave iv either in magenta or yellow. Advisable to wait for a bearish continuation entry signal later from BSTS for this week. Otherwise we may see an extension of corrective phase according to the alt count in white. Good luck.
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  • #14,593
  • Aug 18, 2008 2:49am Aug 18, 2008 2:49am
Thanks for posting and thanks for pointing out the rising wedge/pennant on the H1 chart.

I'm looking forward to trading a break out here.
Gone to a better place
  • #14,594
  • Aug 18, 2008 10:15am Aug 18, 2008 10:15am
Quoting smikester
Thanks for posting and thanks for pointing out the rising wedge/pennant on the H1 chart.

I'm looking forward to trading a break out here.
you are most welcome. Good luck.

At this moment, price already made a breakout to the lower yellow trendline. If its a true breakout and subwave iv (magenta) is already completed, then we may see for another bearish continuation either to complete a truncated subwave v (magenta) or an impulsive subwave v (yellow). Otherwise we may see the price bounce back to complete the subwave iv in yellow or wave 4 in white. Good luck.
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  • #14,595
  • Aug 18, 2008 10:58pm Aug 18, 2008 10:58pm
At this moment, favourably wave iv is already completed and I'm looking forward for a bearish continuation to complete eiterh a truncated subwave v (magenta) or an impulsive subwave v (yellow). Otherwise we may see another bullish retracement to complete corrective wave c and 4 in white. Good luck.
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  • #14,596
  • Aug 19, 2008 10:23am Aug 19, 2008 10:23am
At this moment, I'm looking forward for a completion of a truncated subwave iv (magenta) or a subwave 1 in wave v (yellow) before before expecting for a bullish retracement either to complete subwave 4 (magenta) or subwave 2 in v (yellow). Otherwise, there are also a probability for a bullish reversal trend according to the alt count in white. Good luck.
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  • #14,597
  • Aug 19, 2008 10:23pm Aug 19, 2008 10:23pm
Until this moment, price still inside the corrective teal triangle. I'm looking forward for a true breakout either to the upper or lower teal triangle trendline to determine which alt count is more favourable. Although the major trend is bearish but there are possibility to see for another bullish retracement to complete the corrective wave 4. So please be extra careul. Good luck.
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  • #14,598
  • Aug 20, 2008 8:44pm Aug 20, 2008 8:44pm
Until this moment, I'm still waiting for a confirmation either refering to the further bullish retracement trend (magenta) or a further bearish continuation trend (yellow). Please be noted that there are possible a H & S pattern and a further true breakout to the neckline would bolster the bearish continuation scenario. Otherwise a true breakout to the upper green trendline would bolster the bullish retracement (magenta) or the bullish reversal scenario (white). Good luck.
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  • #14,599
  • Aug 21, 2008 1:40am Aug 21, 2008 1:40am
Do you think it will breach the 202.5?
The market can stay irrational, longer than you can stay solvent.
  • #14,600
  • Aug 21, 2008 11:04am Aug 21, 2008 11:04am
At this moment, I'm looking forward for a completion of subwave v in wave 3 either refering to the alt counts in magenta or yellow before expecting a bullish retracement to complete wave 4. Please be noted also a possibility an inverted H & S reversal pattern. Good luck.
Attached Image (click to enlarge)
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