Analysis GBP/JPY

[Muhammad_27]

when is the nfp news?

9.30pm GMT-8

 

[asik rugi jer]

h1

subwave...??

 

[Jebatfx]

Gbp vs Jpy 1H, 4H & Daily Pre-Market Overview

Chart 1H - I'm getting more bias towards my alt count. As long the price move in blue and red zones, the market is in bullish trend. A breakout to the short critical point and later to the major bullish reversal critical point would boilster this point of view. Unless the price break the lower red zone trendline, this idea would be invalid, means thats favourable back to Bearish Continuation. Otherwise preferable a Bullish Reversal Continuation. Please do the checklist and wait for a complete signal from BSTS before making any entry.

Chart 4H - I can see clearly that a retracement to complete wave iv still incomplete. As long the price move inside the blue and red zones, this speculations would still be valid. But if the price still continue to bullish and break my bearish critical line, I'm more favour for a bullish continuation already. Please take notes about my alt count. Otherwise if the price break the lower red zone trendline, preferable for a bearish continuation to complete wave C and 5.

Chart Daily - There are 2 possible counts and it still unclear for me to determine which one is more favourable. I believed the real trend will be unfold by next week. So good luck in your trading and to my members, please do your homeworks and the checklist before making any entry.

 

[Jebatfx]

There are 2 possible wave count at the moment and its still unclear so far which one look more favourable. Unless the price break the lower red trendline, a bullish retracement continuation would be expected to take place later on. Otherwise the price might go down to complete wave 5, v & c. Please wait a good entry signal from BSTS before you decide to enter the market. Good lucks.

 

[peruzz]

mr jebat.. any opinion for the GJ price right now.. may goes down or goes up?..

 

[Jebatfx]

mr jebat.. any opinion for the GJ price right now.. may goes down or goes up?..

Its not very clear so far. Anyway, hereby my forecast update. Good luck.

Price already touched the lower red trendline but then rebounce back. I came out with "Diagonal Triangle" correction wave (blue diagonal) which is from my personnel point of view, the price will go up to complete wave e before going down again to complete C and V. Otherwise if the price break the short critical line, this scenario will be invalid. Or, the price will continue going down and break the lower red trendline for a bearish continuation.

 

[asik rugi jer]

 

[Jebatfx]

At the moment, price already DT until reached my bearish continuation critical line. So this shows that market in favour towards bearish continuation. But if the "triple bottom" is valid, we have a reversal signal scenario. And as long the point is not taken, this idea will be valid. Otherwise if the DT continue to break the bearish continuation critical line, I believed wave c,v,5 DT in progress. Please wait for a complete signal from BSTS before making any entry. Good luck.

 

[Jebatfx]

Price already retrace up to complete wave 4 and later going down back to complete wave 5. But if the price continue to go up and break the bullish reversal critical line, this count will be invalid. A bearish continuation will be confirm once the price break to lower triangle trendline. Otherwise, the alt count (white) will take place if the "triple bottom" still valid later on. Good luck.

 

[Jebatfx]

Market already made a retracement more then it supposed to be. Therefore the previous wave count (12345) already considered as invalid. Therefore either GJ will have a bearish extansion or a bullish reversal. Personnaly, I'm more prefer to my alt count (bullish reversal). It is because :-
1) An EW truncation pattern (teal triangle) - indicates an exhaustion in bearish trend.
2) "Triple Bottom" pattern (blue rectangle) - as long the point has not been taken.
3) Once the price break the bullish confirmation line.
Otherwise, there will be a bearish extansion later on if the price break the bearish continuation critical line. Good luck.