Daily GBP/JPY analysis

Nice! Patience pays off!

i concur

i totally agree, imho i think wave will end at around 125xx in a few months

Hey Nelson,

You tp? What an insane drop, eh?!?!?!

Vengeance:

Hello, no I did not take profit but instead I set a stoploss close by and will monitor. Great run. I seldom exit right away at my target, I usually tighten my stoploss instead. Sometimes it works out and price continues through and sometimes it comes back and hits my stoploss. I like to allow all my trades room to breath unless I feel very certain that the trade will no longer go any further. And I get this feeling by looking at support/resistance and candle patterns.

Gbp vs Jpy (1H) - At this moment, I believed market in progress to perform a major wave 5 either in white or magenta. Favourably, I'm looking forward market to perform another bearish continuation trend scenario either to complete a truncated subwave 5 in aqua or an impulsive subwave v in white. Therefore, advisable to look for a bearish continuation entry signal from BSTS later. But, please be noted that market may perform a strong bullish retracement trend to complete wave 2 magenta before another bearish continuation trend scenario.

Gbp vs Jpy (Daily) - Preferably, I believed market in major bearish continuation trend scenario either in white or magenta. A strong breakout towards the bearish continuation critical line 2 would bolster toward the alt count in white. Otherwise we may need to wait a "pullback scenario" for completion of subwave ii in magenta before expecting for another bearish continuation trend scenario.

AUD (Daily) - Favourably, I believed market in progress to complete the right shoulder of "Head and Shoulder" bearish reversal pattern of corrective subwave b in white. A pullback from the upper green trendline and a breakout towards the yellow neckline would bolster towards this scenario. Therefore, advisable to look for a bearish continuation entry signal from BSTS later. Otherwise, please be careful for any strong bullish scenario or any breakout towards the upper green trendline. Good luck.

Gbp vs Jpy (1H) - At this moment, I believed subwave 4 still in progress either refering to the alt counts in aqua or white. A pullback from the R3 or 61.8% critical line would bolster towards this scenario. Otherwise, please be careful for any breakout towards the aqua/white critical line.

Gbp vs Usd (Daily) - Preferably, I believed market will perform a major bearish reversal trend either in yellow or magenta. Otherwise, please be careful for any breakout towards the upper dotted yellow trendline. Good luck.

I would be careful for a bullish bounce at this point to retest the last daily resistance

At this moment, I'm looking forward market to perform a bearish continuation trend scenario to complete either a truncated subwave 5 in aqua or an impulsive subwave 5 in white as long the aqua/white critical line is remain intact. Otherwise, please be careful for any breakout towards the upper green trendline. Good luck.

At this moment, due to the strong bullish trend, therefore please be noted that the previous alt count in aqua/white is already invalid. Favourably, I'm looking forward for a pullback scenario from the R3 critical line (magenta) or green upper trendline (white) for another bearish continuation trend scenario. Good luck.

A pullback does seem likely especially due to the rate decision coming up. Looks like its pricing it in right now.

this is a critical long term pivot moment.....from a week ago

Favourably, I'm looking forward for any possibility towards a bearish continuation trend refering to the alt count in magenta. A breakout towards the S3 critical line and lower red trendline would bolster towards this scenario. Otherwise, we may see another bullish breakout toward the upper green trendline and bullish continuation critical line 1. Please be extra careful for NFP announcement tonight at 9.30pm (GMT+8). Happy weekends and good luck.

it will be 8:30 AM (GMT-5) in the morning for me.

you must be near me!! i'm in dallas i have a hundred questions for you about the GBP/CHF

At this moment, please analyse all possibile alt counts. Favourably, I'm looking forward for a bullish retracement trend either to perform subcorrective wave b (Head & Shoulder) in white or a truncated subwave 5 in magenta. Otherwise, please be careful for any breakout towards the magenta/white critical line. Good luck

do you think g/y will break 143.60 leverl or is it due for a bounce?

At this moment, I believed market in progress either to complete subwave v (wave 1) in white or magenta before expecting for a bullish retracement trend to perform wave 2. A breakout towards the bearish continuation critical line 1 would bolster towards the alt count in magenta. Otherwise, a breakout towards the magenta critical line would indicate the market is already in progres to complete subcorrective wave c and 2 in white. Good luck

Would be very careful of a bounce off the 142 area

At this moment, a valid descending triangle bearish continuation pattern would indicate that subwave v in magenta still in progress. Therefore market may perform a complex corrective wave abcde in iv to complete this pattern. Otherwise, we may see a bullish trend to complete corrective wave c in white in 5 bullish wave structures. A breakout towards the upper yellow trendline would bolster to this scenario. Good luck.