GBP/JPY Technical Analysis - Forex

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

I believed market just made a false breakout and looking forward to see a bearish trend later refering to alt count in magenta or yellow. If this scenario valid, I'm looking for a possible subwave i ii iii iv and v in C (magenta/yellow) for bearish subwave sequences to be perform later. Otherwise we may see a bullish continuation refering to alt count in white later. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

I'm looking forward for a bearish continuation later today. Please study both alt counts in magenta and yellow for this scenario. A further breakout to the bearish reversal bias line would bolster this scenario. Otherwise, please be carefull for any bullish possibility refering to the alt count in white. Have a nice weeekend and good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

[COLOR="YellowGreen"]Gbp vs Jpy 1H, 4H & Daily Pre Market Overview [/COLOR]

Chart 1H - Please analyse all possible alt counts and try to determine which one is more favourable according to your trading system. Preferably, I'm looking forward for a bearish continuation trend later next week. Therefore, please look for any good entry signal from BSTS later. Good luck.

Chart 4H - I hope the diagonal triangle pattern is valid for indication of a bearish reversal trend and a breakout to the bearish reversal bias line would bolester this scenario. Anyway please be carefull to the possibility of the alt count in white.

Chart Daily - Price already inside my maroon rectangles zones which is preferable for a bearish reversal trend in magenta. In daily, we can see more clearly the diagonal triangle pattern refering to the yellow trendlines. If this pattern stay valid, then I strongly believed we shall see a major bearish trend later starting next week. Anyway, please be extra carefull for alt count C in yellow.

Summary :

1) Preferably looking forward for a bearish continuation trend for next week.

2) Please analyse all bearish bias alt counts either refering to magenta or yellow or white.

3) A breakout to the bearish reversal bias line would bolster the bearish continuation scenario. Otherwise this scenario would be invalid if there is a true breakout to the bullish continuation critical line 2.

Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

I'm looking forward for a bearish continuation trend later within this week to complete major corrective wave C (magenta/yellow/white). Therefore please look for any good entry signal from BSTS later. This scenario would still valid as long the bullish continuation line 2 still intact. A further breakout to the bearish continuation line 1 would bolster this point of view. Happy trading.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

I'm looking forward for a bearish continuation to complete subwave iii before expecting any retracement to complete subwave iv in wave 3 (magenta). As long the critical line for magenta still intact, this scenario would still valid. Also please noted that the alt counts in yellow and white is already invalid. Overall, just don't forget to monitor your SL since anything is possible to happen. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Please noted that I have to recount the waves due to the current market scenario. Please study the latest possible alt counts and try to determine from BSTS, which one is more preferable. I'm still looking forward for a bearish continuation trend later within this week but please be carefull for any possibility refering to the alt count in white. Please analyse BSTS 2 & 3 Weekly as your long term control strategy. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Looking forward for any breakout either to the upper or lower teal triangle trendline before I can confirm which count is more preferable. I'm still bias towards a bearish continuation trend within this few weeks but anything can happen. So please be carefull before making any entry. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

At this moment, price still moving inside the teal triangle. I'm looking forward for a symmetrical triangle pattern abcde (cyan) which is synonym to a bearish continuation corrective pattern to be perform later today. Please noted that there will be a NFP announcement later tomorrow at 8.30 pm (GMT 8+). A further breakout to the lower teal triangle and bearish continuation line 2 would bolster the bearish continuation scenario. Otherwise a true breakout to the upper major green trendlines would put this scenario in critical moment. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

At this moment, I'm looking forward for completion of subwave e and ii (yellow) before expecting any possible bearish continuation later tonight. But please monitor those triangle for any breakout either to the upper or lower trendlines. Although I'm bias towards a bearish continuation but please bear in mind, anything is possible. So please be carefull. Therefore please analyse all possible counts (magenta/yellow/white) and decide which is more preferable. Happy weekends and good luck.

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Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

I'm looking forward for a completion of corrective subwave e (cyan) and ii (yellow) before expecting any possible bearish continuation movement. A strong resistance from the major upper green trendline (triangle) would bolster this point of view. But please be carefull if the price make a true breakout to the upper green triangle trendline. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Please analyse both alt counts either in yellow or white. Preferably, I'm looking for a bearish continuation trend refering to alt count in yellow.. A further downside movement and a true breakout to the lower red trendline would bolster this scenario. Otherwise, a breakout to the upper green trendline and later to the bullish continuation line 1 would favour to the alt count in white. Have a nice weekends.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Until this moment, price just been rejected from the major upper green trendline. Please noted that I made some adjusment to the alt count in yellow and magenta. I believed subwave e (cyan) and ii (magenta) is already completed and looking forward for a further downside movement later next week for a bearish continuation to complete subwave iii (magenta or yellow). Favourably, a breakout to the lower major red trendline would bolster this scenario. Meanwhile, a further breakout to the upperside until the bullish continuation line 1 would put the bearish continuation scenario in major doubt. Good luck.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

[COLOR="YellowGreen"][U]Gbp vs Jpy 1H, 4H & Daily Pre Market Overview [/COLOR][/U]

Chart 1H - Please noted that there was 3 possible alt counts which is either magenta, yellow or white. Preferably, I'm looking for bearish continuation either refering to alt count in magenta or yellow. Therefore, please confirm form your BSTS for any bearish continuation entry signal. Otherwise we may see a bullish trend according to the alt count in white.

Chart 4H - I'm looking forward for a completion of subwave ii (magenta or yellow) before expecting for any bearish continuation trend. A further breakout to the lower major red trendline would bolster this scenario. Otherwise if the price move further upwards and made a true breakout to the bullish continuation line 2, this scenario would be invalid.

Chart Daily - I'm looking forward for a valid reversal diagonal triangle pattern (rising wedge) which is refering to a bearish reversal trend to perform either to alt count in magenta or white. But please be carefull for any bullish continuation trend refering to alt count in yellow.

Summary :

1) Preferably looking for a bearish continuation trend and a further breakout to the major lower red trendline would bolster this scenario. This scenario would be invalid if there is a breakout to the bullish continuation line 2.

2) Please also be carefull for a possibility of the bullish trend. A true breakout to the bullish continuation line 2 would bolster this alt counts.

Happy trading and good lucks.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Price have to make a breakout from the teal triangle either to the upper or lower trendlines. Please be carefull for any bullish trap or false breakout to the upper green trendline. But if the price continue moving upwards until break the bullish continuation line 1 and 2, the bearish continuation trend would be in major doubt. Preferably, I'm still looking for any possible bearish trend to complete corrective wave c (magenta or yellow). Good lucks.

Jebatfx · PJNet Junior Joined: Feb 23, 2008 Posts: 387

Please noted that the alt count in magenta is already invalid. Price just bounce back from the major lower red trendline and I'm looking forward for another attempt later. Please analyse both counts (yellow and white) and try to determine which one is more favourable from BSTS. Good luck.