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Daily GBP/JPY analysis

  • #14,621
  • Aug 28, 2008 9:47pm Aug 28, 2008 9:47pm
Quoting trader8686
Can anyone tell me the meaning of "BSTS", and "alt"?
BSTS means "Bujang Senang Trading System" - its a trading system compiled by me. You also can use any trading system that you have to determine which alt (alternate) counts is more favourable.

The basic concept is I always gave 3 type of possible an Elliot Wave alt counts and you have to analyse from your experience and your trading system which alt counts is more favourable.

Good luck.
  • #14,622
  • Aug 28, 2008 9:48pm Aug 28, 2008 9:48pm
Quoting Dat7447
Dear Friend Jebat.,do you mind telling me what are the level 198.04 & 196.85 base upon?
I got it from previous support and resistance. Good luck.
  • #14,623
  • Aug 28, 2008 9:50pm Aug 28, 2008 9:50pm
At this moment, price still in bearish continuation trend and due to that, the alt count in magenta and yellow in critical stages. Preferably, advisable to wait for a good bullish reversal entry signal later once subwave v (magenta) or wave 5 (white) is completed. Please be extra careful for a "bearish trap" scenario. Otherwise market will continue further downside referring to the alt cont in yellow. Good luck and wish to all muslim a happy Ramadan.
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  • #14,624
  • Aug 29, 2008 8:39am Aug 29, 2008 8:39am
Hi all,
Could any buddy show better scalping EA for trading gbp/jpy now pls?

tks
[email protected]
  • #14,625
  • Aug 31, 2008 9:15pm Aug 31, 2008 9:15pm
OK, now how is everyone thinking about this gap? Is it going to close or not? Today, we have a gap over 100 pips wide.
  • #14,626
  • Aug 31, 2008 10:31pm Aug 31, 2008 10:31pm
At this moment, I'm looking forward for completion of subwave 3 (magenta/yellow) before expecting a bullish retracement to complete subwave 4. Please be noted also, that further later subwave 5 could be an impulsive wave or only a truncated wave. Otherwise we may see market in bullish reversal trend referring to the alt count in white. Preferably, I'm only looking for an opportunity for either a bullish retracement or reversal entry signal from BSTS later (once wave iii or wave v/5 is completed). Good luck.
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  • #14,627
  • Aug 31, 2008 10:47pm Aug 31, 2008 10:47pm
possibly an expanded flat
  • #14,628
  • Sep 1, 2008 11:41am Sep 1, 2008 11:41am
Quoting Gbp/jpy
possibly an expanded flat
yes, anything is possible. So please always be careful and good luck.

At this moment, I'm looking forward for either a bullish retracement to complete subwave 4(magenta or yellow) or bullish reversal to complete corrective wave a (white). But please be careful for any bearish continuation for subwave 3 or wave 5 extension. especially a breakout towards the major bearish continuation critical line 2. Please confirm from BSTS. Good luck.
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  • #14,629
  • Edited 1:04pm Sep 1, 2008 12:53pm | Edited 1:04pm
Quoting Jebatfx
yes, anything is possible. So please always be careful and good luck.

At this moment, I'm looking forward for either a bullish retracement to complete subwave 4(magenta or yellow) or bullish reversal to complete corrective wave a (white). But please be careful for any bearish continuation for subwave 3 or wave 5 extension. especially a breakout towards the major bearish continuation critical line 2. Please confirm from BSTS. Good luck.
Excuse me, I have tried to read your chart many times, then I have found bearish continuation critical line and magenta/yellow critical line.
But I still can't find the white line.
Can you pls give us the price (or range) whenever you refer to magenta/yellow/white lines?

BTW, would you be kind enough to point me to the BSTS message just to learn it.
  • #14,630
  • Sep 1, 2008 9:46pm Sep 1, 2008 9:46pm
Quoting trader8686
Excuse me, I have tried to read your chart many times, then I have found bearish continuation critical line and magenta/yellow critical line.
But I still can't find the white line.
Can you pls give us the price (or range) whenever you refer to magenta/yellow/white lines?

BTW, would you be kind enough to point me to the BSTS message just to learn it.
basically, u can take the latest support price as a critical line for white count or if the price break to the next bearish continuation line. And just analyse from your current trading system which alt count is more favourable and when is to make an entry if you don't have BSTS. Good luck.

Due to an extension of subwave 3, I have to do a wave recounts and therefore please analyse all latest possible alt counts available. Preferably, I'm still looking forward for a possibility of bullish retracement (magenta or white) later to complete subwave 4. Othwerwise we may see a further bearish continuation for another extension referring to alt count in yellow.. Please be noted that subwave 5 later could be an impulsive wave (yellow) or only a truncated wave (magenta or white). So please be extra careful. Good luck.
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  • #14,631
  • Sep 3, 2008 9:42pm Sep 3, 2008 9:42pm
Until this moment, market still in strong bearish trend to complete an extension of subwave 3. I'm still looking forward possibility for a good bullish retracement to complete subwave 4 (magenta or white) trend later once subwave 3 is completed. Also, please be extra careful for tomorrow NFP announcement for any bearish continuation or a bullish retracement. Good luck.
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  • #14,632
  • Sep 4, 2008 2:16am Sep 4, 2008 2:16am
I open short position now 192.50 my first target is 191.50 if done 190.90 where I'll go long to 191.90
  • #14,633
  • Sep 4, 2008 9:25pm Sep 4, 2008 9:25pm
Quoting elbarck
I open short position now 192.50 my first target is 191.50 if done 190.90 where I'll go long to 191.90
congratulation. Happy weekends.

Due to the yesterday bullish retracement trend and further later another bearish continunation trend, I believed subwave 4 is already completed and looking forward for another retracement to complete subwave iv (cyan) before further bearish continuation to complete subwave v (cyan) in wave v/5/3 (magenta). Preferably, I'm looking forward for a major bullish retracement (magenta) or reversal (white) later today or next week referring to the alt count in magenta or white(truncated). Please watch closely the yellow reversal critical line. Otherwise we may see another bearish continuation to complete an extension of subwave iii (cyan) in 3 (yellow). Good luck and happy weekends.
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  • #14,634
  • Sep 6, 2008 6:51pm Sep 6, 2008 6:51pm
Hi,

Why don't we add our next positions here in addition to the analysis....

My last positions were

Short 189.00 >>> 188.00
Short 189.00 >>> 188.00

With 200 PIPS
  • #14,635
  • Sep 7, 2008 11:05pm Sep 7, 2008 11:05pm
Due to the price already break the reversal critical line 1, therefore the previous alt counts in magenta and yellow is already invalid. Please be noted that market now either in bullish retracement trend (magenta or yellow) or already in bullish reversal trend. Another bearish continuation trend later once wave 4 is already completed would favour to the alt count in magenta (truncated) or yellow (impulsive). Otherwise a further breakout to the reversal critical line 2 would favour to the bullish reversal trend scenario. Good luck.
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  • #14,636
  • Sep 8, 2008 11:14am Sep 8, 2008 11:14am
At this moment, I'm looking forward for a completion of major wave 5 before expecting for a major corrective a, b and c. Please be noted that wave 5 have 3 possible scenarios which is :

1) Truncated wave 5 (white)
2) Truncated wave 5 - triple bottom (magenta)
3) An Impulsive wave 5 (yellow)

Therefore please look for any good bullish reversal signal from BSTS later once wave 5 (white or magenta or yellow) is completed. Good luck.
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  • #14,637
  • Sep 8, 2008 10:15pm Sep 8, 2008 10:15pm
At this moment market in progress to perform major wave 5 either referring to the alt counts in white (truncated), magenta (truncated) or yellow (impulsive). Please study all possibe alt counts and determine what is your next trading strategy. Advisable to look for a good bullish reversal entry signal to perform major corrective a,b and c from BSTS later once major wave 5 (white or magenta or yellow) is completed. Please be extra careful, since got a good possibility also market to perform a bullish retracement to perform subwave ii in yellow before another bearish continuation to complete subwave iii in 5 (yellow). Good luck.
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  • #14,638
  • Sep 8, 2008 10:16pm Sep 8, 2008 10:16pm
dude i wonder how you are still able to have a good reading based on that chart.... its a mess..... !!

Quoting Jebatfx
At this moment market in progress to perform major wave 5 either referring to the alt counts in white (truncated), magenta (truncated) or yellow (impulsive). Please study all possibe alt counts and determine what is your next trading strategy. Advisable to look for a good bullish reversal entry signal to perform major corrective a,b and c from BSTS later once major wave 5 (white or magenta or yellow) is completed. Please be extra careful, since got a good possibility also market to perform a bullish retracement to perform subwave ii in yellow before another bearish continuation to complete subwave iii in 5 (yellow). Good luck.
  • #14,639
  • Sep 8, 2008 10:18pm Sep 8, 2008 10:18pm
was thinking exactly the same. unreadable this is.
Enter Signature
  • #14,640
  • Sep 9, 2008 1:52am Sep 9, 2008 1:52am
Quoting johninthai
was thinking exactly the same. unreadable this is.
well it is readable, but only if you try really really hard.
personally for me it's not very nice on the eyes
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