Daily GBP/JPY analysis

At this moment, I'm looking forward for a "bull trap" and "triple top" scenario to bolster towards the bearish reversal trend scenario (aqua/white). Otherwise, we may see another bullish rally scenario to complete wave 5 either in yellow or magenta (most probably a diagonal triangle pattern). Good luck.

At this moment, a breakout towards the S3 critical line is needed to bolster towards the bearish reversal trend scenario to complete corrective wave c either in aqua or white. Otherwise, please be careful for an "ascending triangle" bullish continuation pattern scenario perhaps to complete wave 5 in yellow. Happy weekends and good luck.

At this moment, I'm looking forward for another bearish continuation trend scenario either to complete subwave iii in aqua or white. Otherwise, please be careful for any bounce scenario either from the S3 critical line or major lower red trendline later. Good luck.

What about gap? There is nice 200 pips profit...just a thought

it breaks the uptrend-line. We may see some 300-400 pips drop more.

Thanks.

Market already performed a strong bounce from the major lower red trendline. Favourably, I'm looking forward for a bearish continuation trend scenario to complete subwave v either in aqua or white. Otherwise, please be careful for another breakout to the white and R3 critical line. Good luck.

You seem to be a very good chartist. Do you use any fundamentals?

Nope, I trade base purely on technical analysis.

Happy trading.

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Please be noted due to the strong bullish trend, therefore I have to make some wave re-count towards the alt count in aqua and white. A pullback from the upper trendline would bolster toward the alt count in aqua. Otherwise, please be careful for a breakout towards the aqua critical line. Good luck.

Gbp vs Jpy (1H) - At this moment, I'm looking forward market to perform a right shoulder for the "Head and Shoulder" bearish reversal pattern. Therefore, advisable to look for a possible bearish entry if its do happen. Otherwise, please be careful any breakout towards the aqua critical line (R3).


Gbp vs Usd (Daily) - Preferably, I believed market in bullish retracement trend either to complete wave 4 in magenta or yellow. Therefore, I'm expecting for another major bearish continuation trend scenario either refering to the alt count in magenta (4 already completed) or in yellow (4 still in progress). Otherwise, please be careful for any possibility towards the alt count in white scenario or a breakout towards the critical lines. Good luck.

Gbp vs Jpy (1H) - At this moment, a breakout towards the S3 critical line would bolster to the alt count in aqua scenario. Otherwise, we may see another bullish rally either to complete corrective wave b (white or magenta) or wave 5 (yellow).

Gbp vs Jpy (Daily) - At this moment, please be extra careful since market is getting more and more bias towards the bullish reversal trend scenario either in yellow or white. A breakout either towards the white critical line or yellow critical line is still remain to be seen before I can determine which alt count that is more favourable. Happy weekends and good luck.

At this moment, I'm looking towards a pullback (Bull trap) scenario to bolster to the alt count in white or magenta. Otherwise, another bullish rally would confirm that market in progress to complete wave 5 in yellow before expecting for any possibility towards a bearish reversal trend scenario. Therefore, at the moment, I would suggest to look for any possibility towards a pullback scenario from the major upper yellow trendline to perform corrective wave a, b and c either in white or magenta. Good luck.

At this moment, a further breakout towards the lower red trendline is still yet remain to be seen to bolster toward either the alt counts in white or magenta scenario. Otherwise, a breakout towards the major upper yellow trendline would confirm market still in progress to complete wave 5 in yellow. Preferably, advisable to look for an opportunity towards a bearish entry once market perform any bullish retracement trend with condition that the major upper yellow trendline is remain intact. Good luck.

I expect a bullish reversal on the 4hr or day shortly.

ya me too, but it needs to hit the Lower trend line in red before the reversal. Today it bounced off the 38.2 Fib of the 145.05 -139.33 downtrend close to the 141.55 support . so im waiting for confirmation...

btw, nice posts jebatFX. i like your wave counts

u r welcome. Happy trading.
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At this moment, I believed market in progress to complete corrective wave a either in aqua, magenta or white. Please be noted that I'm expecting market to be perform later a bullish retracement trend scenario either to perform corrective wave b in aqua (H & S) or in magenta/white. Favourably, I'm looking for any possibility towards a bounce scenario from the major lower red trendline later to perform corrective wave b in magenta. Good luck.

Thanks jebatfx for keeping this thread alive. I always look out for your analysis. Here is my analysis. It is simple, as usual, and I like it that way.

Below is a perfect example of a megaphone formation which is a relatively rare chart formation with a high reliability rate. That does not mean you can trade it blindly. For experienced traders only.





This formation is characterised by higher highs and lower lows - a volatile battle between bulls and bears. At a swing high, this is a bearish formation. It typically will have 3 touches at the top, and 2 touches at the bottom. It is sometimes called a "broadening triangle formation". The first target is the lower trend line. After that it's every man (or woman) for themselves, but expected to continue bearish. If you have stayed with me thus far, say "aye".

My posts here are relatively rare but this thread was my introduction to Forex and Forex Factory. Typical posters were Cesarnc, Bravado, Big Wave Rider, Duke of Dents. You could make money by closing your eyes and going long. Only 3 years ago. Then came the crunch...

hi,

thanks to u 2 for the "expanded flat" analysis and explanation. Happy trading.
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Favourably, I'm looking forward for a bearish continuation trend scenario either refering to the alt counts in aqua or white. A breakout toward the bearish continuation critical line 1 would bolster to this scenario. Otherwise, please be careful for any breakout towards the upper green trendline and aqua critical line. Good luck.

At this moment, a further breakout to the R3 critical line would favour to the alt counts either in magenta or yellow. Otherwise, we may see a bearish reversal trend scenario to perform 5 subwaves structure in C either in aqua or white. Happy weekends and good luck.

At this moment, I'm looking forward for an opportunity towards the bearish reversal trend scenario refering to the alt count in white. A strong breakout towards the S3 critical line would bolster to this scenario. Otherwise, please be careful for any breakout towards the white critical line OR a possible major ascending triangle pattern that would favor toward the alt count in yellow scenario. Good luck.