GBP/JPY Technical Analysis

[Jebatfx]

At this moment, I believed wave 4 already completed and I'm looking for another bearish continuation trend to perform wave 5 and C later (yellow or magenta). A breakout to the lower major red trendline would bolster this scenario.

Otherwise if my retracement critical line is taken, this scenario would be invalid and will favourable to the alternate count in white. Therefore, please look for a complete bearish continuation signal from BSTS before making any entry, good luck.

[Jebatfx]

At this moment, unless we have a true breakout to my upper major green trendline, I still believed market will perform for a bearish continuation (reversal) soon today or tomorrow.
Therefore, please be patient and revise your SL to protect your entry. Otherwise we may see a breakout to my retracement critical line and my bearish continuation scenario would be invalid. Good luck.

[TheRumpledOne]

Crossing below previous day's midpoint.

[TheRumpledOne]

Support hit on M15 and M30.

[Jebatfx]

So sorry I can't update my forecast yesterday due to uploading problem at imageshack. Therefore, next time in future, please kindly to double check any update from my blog. Hereby I upload again the previous updated forecast for yesterday evening together with recent forecast. Sorry for the inconvinience.

Yesterday 7.51 pm


At this moment price already bounce back from my lower major red trendline. I believed either subwave i (magenta) already established or subwave i (yellow) still in progress. A breakout to the lower red triangle trendline would bolster this bearish continuation scenario but be extra carefull for alternate count in white. Preferable - bearish continuation trend to complete wave 5 and C (magenta or yellow) in progress with condition my retracement critical line stay intact. Have a nice day.



At this moment, price already break my lower major red trendline and already inside my bearish bias maroon zones. Therefore, I believed subwave i (magenta/yellow) already completed and looking forward for a confirmation of subwave ii before we can see another bearish continuation to complete subwave v (magenta/yellow), wave 5 and C. Either subwave ii already completed or not, I can only determine later.

Please also noted that if scenario is valid, then there is subscenario which is either wave 5 is truncated (magenta) or an impulsive (yellow). Also don't forget about the possibility of wave count in white. Good luck and happy weekends.

[TheRumpledOne]

Are those free indicators or do you have to pay for them?

[Jebatfx]

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


Chart 1H - At this moment, I believed wave4 already completed (yellow or magenta) and price in the process to perform wave 5 and C. A breakout to the lower red trendlines and later to the bearish continuation line 4 woulde bolster this scenario. Otherwise if my retracement critical line is taken, then this scenario would be invalid and shall more preferable to count in white.



Chart 4H - Please watch the teal triangle zones for any breakout.Preferable for a bearish continuation trend later as long my retracement critical line still intact. Anyway, please study all alternate counts and determine which counts is more favourable.



Chart Daily - Please analyse all alternate counts (yellow, white % magenta) and looks from BSTS any significant signal for any particular counts. As long the price stay under the upper green trendline, favourably the trend still bias for bearish trend.

Summary :

1) Please look for a bearish continuation signal fromn BSTS with condition the retracement critical line stay intact and alternate count in white is not valid.
2) Wave 5 could be a truncated wave or an impulsive wave.
3) Look for a bullish reversal signal ince wave 5 is completed.

[Jebatfx]

Originally Posted by TheRumpledOne

Are those free indicators or do you have to pay for them?

Its a set of custom indicators and its only for AFT members.



Until this moment, the major green upper trendline still stands as a strong resistance and overall we can see the price slowly moving downwards following inside the channel trendlines. Preferably, I'm still looking for a bearish continuation trend but please noted that anything could happen (alternate count in white). A breakout to the lower triangle trendline would bolster this scenario. Good luck.

[TheRumpledOne]

I see lower highs and lower lows on the H1.

[TheRumpledOne]

Showing the pivot lines.