Daily GBP/JPY analysis

Chart 1H GJ - Preferably, I'm looking forward for a bearish reversal trend to be perform refering to the alt counts in yellow. A breakout to the lower red trendline would bolster towards this scenario. Otherwise please be careful for any unfinish corrective wave b in white or major wave 4 in magenta.

Chart Daily GJ - I believed, market just performed a major bullish retracement trend to complete major wave 4 (white, magenta or yellow). Therefore, I'm looking for any opportunity towards any major bearish continuation trend scenario to complete major wave 5 with condition wave 4 is already completed. A valid diagonal triangle pattern would bolster towards this scenario. So, advisable to look for any good bearish entry signal from BSTS or your trading system.

Chart Weekly EU - I believed market will perform a further major bearish continuation trend to complete major wave c with condition major wave b is already completed (yellow). But, please be careful if the major wave b is still not complete yet (white).

Chart Daily GU - Preferably, I'm looking for a possibility toward a bearish trend either refering to the alt count in yellow (truncated) to perform corrective wave a,b and c OR magenta which is to perform major wave 5. A valid diagonal triangle patern would bolster towards this cenario. Otherwise, please be careful since market may perform another bullish continuation trend to complete wave v in c (white). Therefore, please confirm from any breakout towards any critical lines later.

Chart Weekly GU - Favourably, I'm looking for any bearish continuation trend scenario with condition either wave c (yellow) or wave 4 (magenta) is already completed. But please be careful for any bullish continuation trend to complete the unfinish wave c in white.
Summary - Overall, I'm looking forward for any possibility towards the bearish trend scenario either in GJ, EU or GU. But please confirm any trend or alt counts from your trading system. Also, please be careful since there will be an NFP announcement tonight at 8.30 pm (GMT+8). Good luck.

At this moment, price just bounce after break the lower red trendline. Favourably, I'm looking for a further bearish continuation trend to complete subwave i in yellow. While a further breakout to the neckline would bolster towards the alt count in cyan in which indicates that subwave i and ii is already completed. Otherwise, please be careful for any strong bounce scenario and any breakout toward the upper green trendline. Happy holidays and good luck.

At this moment, preferably I'm looking forwards for any bearish continuation trend either in yellow or cyan alt counts. Please be careful for any bounce scenario that is more likely I believed market have to perform a bullish retracement trend to complete wave ii yellow. While another strong breakout to the neckline would bolster towards the alt count in cyan. Otherwise, please be careful for any breakout to the upper green trendline (dotted line). Good luck.

At this moment, I believed market in progress to complete subwave ii either in white or yellow before expecting for another bearish continuation trend to perform subwave iii in c. Therefore, advisable to look for any possibility completion of subwave ii from BSTS later before making any short entry. Otherwise, please be careful for any breakout towards the upper green trendline or white/yellow critical line. Good luck.

At this moment, price already break the possible neckline and major lower red trendline. Favourably, I believed market in progress to complete subwave iii either in yellow or white before expecting for any bullish retracement trend to perform subwave iv. A further breakout to the magenta critical line would bolster the major bearish continuation trend scenario to complete major wave 5. But, please be careful for any strong bullish retracement trend and any breakout to the white/yellow critical line. Good luck.

At this moment, price already break the possible neckline and major lower red trendline. Favourably, I believed market in progress to complete subwave iii either in yellow or white before expecting for any bullish retracement trend to perform subwave iv. A further breakout to the magenta critical line would bolster the major bearish continuation trend scenario to complete major wave 5. But, please be careful for any strong bullish retracement trend and any breakout to the white/yellow critical line. Good luck.

Preferably, I believed market in progress to complete wave iv in yellow before expecting for another bearish continuation trend to perform either a truncated or an impulsive wave v. Advisable to look for any bearish continuation entry signal from BSTS later as long the bullish continuation critical line 1 is remain intact. Otherwise, please be careful if there is any breakout to the bullish continuation critical line 1. Please be noted also that the previous alt count in magenta is already invalid. Good luck.

At this moment, I believed market will perform a bearish continuation trend either to complete an impulsive subwave v in yellow or a truncated wave v (magenta or white). Therefore, please be careful for any truncated scenario or any breakout to the bullish continuation critical line 1. Good luck and happy weekends.

Favourably, I'm looking for further bearish continuation trend scenario either to complete subwave v in 1 in white (double bottom) or yellow before expecting for any bullish retracement trend to complete wave 2. But, please be careful for any possibility towards a truncation scenario refering to the alt count in magenta. Therefore, please look for any breakout to the critical lines to confirm which alt counts that is more in favour. Good luck.

went short at 148.669
ended up with 30 pips exactly...whew was nervous bout it for a second


edit
scalped 10 more to the upside

its very dangerous to trade such that. Please be careful.

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At this moment, I'm looking foward for another bearish continuation trend to perform a diagonal triangle corrective wave abcde pattern refering to the alt count in yellow. Otherwise a breakout to the upper green trendline would indicates that perhaps market in progress to perform wave 2 either in white or magenta before expecting for another bearish continuation trend scenario. Advisable to look for any good opprtunity towards a bearish entry signal from BSTS later. Good luck.

I found a Blog about GBPJPY, I don't know it's a good or bad system, but sometime I'm really enjoy it.

http://isha-system.blogspot.com

Chart 1H - Please be noted that I need to do slightly recounts due to the upside trend. Favourably, I believed market in bullish retracement trend to complete wave 2 before expecting for another major bearish continuation trend refering to either the alt count in yellow, magenta or white. At this moment, I'm looking for any opportunity towards the alt count in yellow. Otherwise, please be careful for any breakout towards the upper green trendline. Advisable to look for any bearish entry signal from BSTS later.

Chart Daily - As long the white/yellow critical line is remain intact, I believed market will perform another major bearish continuaton trend to perform wave iii once wave 2 is completed (yellow). Otherwise, if the line is taken, then perhaps we may see another bullish rally to complete major wave 4 in magenta before expecting for any bearish continuation trend. Good luck.

At this moment, market showed a very strong bullish trend. Favourably, I'm looking forward for a completion for wave 2 in yellow and expecting for another bearish continuation trend to perform corrective subwave a, b and c in cyan. Otherwise, a further breakout towards the white/yellow critical line would indicates that we may see a bullish continuation trend to complete wave 2 in magenta. Good luck.

At this moment, I'm looking forward for a bearish continuation trend to peform corrective wave c in cyan. A breakout toward the S3 would bolster to this scenario. Otherwise, please be careful for any possibility towards a bullish continuation trend refering to the alt count in magenta. Good luck and happy weekends.

Chart 1H - Please be noted that due to the upside trend, therefore I need to do a recounts towards the previous alt counts in yellow and white. At this moment, I believed market in progress to perform wave 2 either in white/yellow (truncated subwave 5) or magenta (impulsive subwave 5/diagonal triangle pattern) before expecting for another bearish continuation trend scenario. Therefore, please confirm either subwave 5 will be a truncated or impulsive from BSTS later before making any short entry. Otherwise if the white/yellow/magenta critical line is taken, all this counts would be invalid.

Chart Daily - Preferably, I believed market in progress to complete subwave 2 in yellow before expecting for another major bearish continuation trend to complete subwave 3,4 and 5 in 5/C. Otherwise, please be careful for any breakout towards the white/yellow critical line that would bolster towards the alt count in magenta. Good luck.

Preferably, I believed subwave 5 in c/2 is already completed (white/yellow) and I'm looking forward market to perform a bearish reversal trend to complete corrective wave a,b and c in cyan or major wave 3. A breakout towards the lower red trendline would bolster to this scenario. Otherwise please be careful for any bullish continuation trend scenario if wave 2 still not complete yet (magenta). Good luck.

At this moment, price already break the lower yellow diagonal trendline. Favourably, I believed market in progress to perform corrective a,b and c either in cyan/yellow or white. A breakout towards the bearish continuation critical line 1 would bolster to the alt count in cyan/yellow otherwise a bounce scenario would indicates that perhap subwave b still in progress (white). Please be noted that both alt counts in yellow and white would be invalid if the white/yellow critical line is taken. Good luck.

I love your charts Jebatx!

Thanks. Always be extra careful since there is always another possibilities if u r using an Elliot Wave Strategy (alt counts). Happy trading.

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Please be noted that due to the bounce scenario at the bearish continuation critical line 1, therefore I believed market in progress to perform corrective wave b (yellow or white) which is more likely a reversal "Head and Shoulder" pattern before expecting for another bearish continuation trend scenario to complete corrective wave in c (yellow or white). A breakout towards the neckline would bolster to this scenario. Otherwise, a breakout to the white/yellow critical line would indicate another bullish rally perhaps to complete the unfinish subwave 5 in 2 (magenta). Advisable to look for any opportunity towards a short entry once corrective wave b (yellow or white) is completed from BSTS later. Good luck.