An Elliot Wave Technical Analysis For Gbp Vs Jpy

[Jebatfx]

At this moment, I'm waiting for a breakout towards the yellow triangle trendlines to determine which alt counts is more preferable. Favourably, I'm looking forward for a bullish retracement to perform subwave iv referring to the alt count in yellow. But, please be careful for any bearish continuation trend to complete subwave iii extension in white. Good luck.

 

[Jebatfx]

Due to the breakout to the lower yellow triangle trendline, therefore I did a recount towards the alt count in magenta and yellow. Preferably, I believed market in progress to complete corrective wave b either in yellow or white. At this moment, I'm looking forward for a bullish retracement trend to perform subwave iv in yellow before expecting for another bearish continuation to complete subwave v in b (yellow). But please be careful for another bearish continuation trend to perform an extension subwave iii referring to the alt count in white. Good luck.

 

[Jebatfx]

At this moment, basically I can divided market in 2 possible scenario :

1) Magenta Count - Corrective wave b is already completed and market in progress to perform corrective wave c in 5 bullish wave structures. . A valid an inverted head and shoulder and a further breakout to the upper green trendline would bolster this scenario.

2) Yellow Count - Market in progress to perform wave iv before expecting for another bearish continuation to complete wave v in b either a truncated or an impulsive wave (white). A pullback from the upper green trendline and a breakout to the bearish continuation critical line 1 would bolster this scenario.

Therefore, please confirm either scenario from BSTS and any breakout later. Happy weekends and good luck.

 

[Jebatfx]

At this moment, I believed market in progress either to perform wave 2 in magenta or subwave v in b (yellow or white) before expecting a bullish continuation trend to complete corrective wave c. Please look for any breakout towards the teal triangle to determine which alt counts is more favourable later, Advisable to look for any possible bullish continuation trend from BSTS later within this week. Good luck.

 

[Jebatfx]

At this moment price still inside the teal triangle. Therefore, please watch closely both upper and lower trendlines for any breakout or bounce/pullback scenario. Preferably, I'm looking forward for an opportunity towards a bullish continuation trend later once either subwave 2 (magenta) or corrective wave b (yellow or white) is completed. Good luck.

 

[Jebatfx]

At this moment, price already touched and pullback from the upper green trendline. Price have to further break to the upside to bolster the bullish continuation trend scenario referring to the alt count in magenta. Otherwise we may see a bearish retracement trend to complete corrective wave b either in yellow or magenta. Good luck.

 

[wencen79]

At this moment, price already touched and pullback from the upper green trendline. Price have to further break to the upside to bolster the bullish continuation trend scenario referring to the alt count in magenta. Otherwise we may see a bearish retracement trend to complete corrective wave b either in yellow or magenta. Good luck.

Thank you JebatFx

 

[Jebatfx]

Thank you JebatFx

you are welcome. Happy trading

Please be noted there is possibility that the market in progress to perform a complex horizontal triangle corrective wave iv referring to the alt count either in yellow or white. As long the yellow/white critical lines is remain intact, this scenario would still valid. Otherwise a further breakout to the yellow/white critical lines would bolster towards the alt count in magenta. Favourably, I'm looking forward for any possibility towards the alt counts either in yellow or white. Good luck.

 

[Jebatfx]

At this moment, I'm looking forward for a "double top" scenario to bolster towards the alt counts either in yellow or white. But, please be noted that a further breakout to the cyan dan yellow/white critical line would bolster towards the alt count in magenta. Therefore, please confirm either trends from BSTS later. Good luck.

 

[Jebatfx]

Please be noted that due to the breakout towards the previous yellow/critical lines, therefore I need to recount for latest possible alt counts. Please analyse latest alt counts and unless there is a strong bullish continuation trend later, then I believed we shall see a bearish retracement trend to perform wave 2 in yellow. Otherwise we may see a further bullish continuation trend either to complete wave 3 in magenta or wave 1 in white. Good luck.