Gbp vs Jpy 1H, 4H & Daily Pre Market Overview
Chart 1H - At this moment, I'm looking forward market to make a breakout either to the upper or lower triangle trendlines. Preferably, I'm looking forward for a bearish continuation trend either to complete a truncated wave 5 in yellow or an impulsive wave 5 in magenta. But please be extra careful for a bullish reversal trend if a truncated wave 5 is already completed (white).
Chart 4H - Preferably, I'm looking forward for a bearish continuation trend to perform a bearish continuation to complete subwave v in 5 (yellow or magenta). A breakout to the lower red triangle trendlines and later to the bearish continuation critical line 1 would bolster this scenario before expecting for a bullish reversal trend to perform corrective a, b and c once wave 5 is completed. But please be careful if there is any breakout to the upper green triangle trendline which is would favour to the alt count in white.
Chart Daily - Basically, I'm still looking forward for a final bearish continuation trend to be perform in order to complete major wave 5 (yellow or magenta). As long as the upper green trendline still intact, favourably, this scenario would still valid. Therefore please watch closely if there is any breakout to the bearish continuation critical line 1 that would bolster this scenario.
Summary :
1) Preferably I'm looking forward for a bearish continuation trend to perform either a truncated wave 5 (yellow) and an impulsive wave 5 (magenta).
2) Otherwise if wave 5 is already completed (white), we shall see a breakout to the upper green trendline to perform corrective wave a, b and c.
3) Advisable to look for any chances to a bullish reversal trend once wave 5 is already completed either referring to the :-
a) White Count - when market in progress to perform corrective subwave c once subwave a and b is completed, Or
b) Yellow or Magenta - when market in bearish continuation trend to perform wave 5.
Good luck.
