GBP/JPY Technical Analysis

[Jebatfx]

I'm looking forward for a breakout to the 202.60 soon today. Please noted that alt count in white would be invalid if this happen and I need to recount again for this scenario. I'm looking forward for a strong downwards breakout to the bearish continuaton critical line 3 later today or tomorrow. Otherwise we may see a bullish movement either as a bullish retracement or bullish reversal (if the retracement critical line is taken). Good luck.

[Jebatfx]

Previous updated forecast due to uploading problem at imageshack. Hereby I upload again the previous updated forecast together with recent forecast. Sorry for the inconvinience.

Yesterday 7.21 pm



Until this moment, 202.60 still hold as a strong support and after a few attempt of test, it still stay intact. Therefore I came out with new case scenario which is represent of diagonal triangle corrective subwave of A B C D & E for completion of wave 4 (magenta/yellow). A triple top pattern would bolster this new scenario (if valid).

Please noted that this new scenario would be invalid if the price make a breakout to my retracement critical line and if this happen, maybe we shall see an alternate white count scenario. So please be carefull before making any entry. Please study BSTS TF 4H, Daily and Weekly chart before making any conclusion. Good luck.



A breakout to my retracement critical point indicated that my previous alt count in yellow/magenta already became invalid and preferable for whitw count (please refer from previous chart). Therefore I need to do a recount as stated in the updated chart. Therefore please study this alternate scenario and look a signal from BSTS for a bearish retracement wave iv before another bullish continuation to complete wave v. Good luck.

[TheRumpledOne]

Simple works, too!

[TheRumpledOne]

I hope I don't have to program more pivot s/r levels...lol

[TheRumpledOne]

Price below current price more times than not.

[Jebatfx]

At this moment, I divided market in 3 possible scenario's which is :

1) Count Yellow - retracement phase to complete wave iv before another bullish continuation to complete a truncated of wave v (wave iii is already completed).
2) Count Magenta - retracement phase to complete wave iv before another bullish continuation to complete an impulsive of wave v (wave iii is already completed).
3) Count White - expecting to see a bullish continuation to complete wave iii before a bearish retracement phase to complete wave iv later.

Therefore please study all this new scenario's including the new retracement critical line, and look for any good signal from BSTS for respectives scenario. Please make an analysis to the BSTS Daily and Weekly chart before making any entry.

Tips - look for any bullish continuation signal and later a bearish reversal signal from BSTS.

[TheRumpledOne]

More bars closed below than above... going down?

[Jebatfx]

At this moment, I believed market already in retracement phase to complete wave iv before another bullish continuation to complete wave v. Unless we see a breakout to the retracement critical line, preferably wave iv (yellow/white) already completed. Otherwise we may consider an alt count in magenta.

But according to the technical analysis at BSTS daily and weekly chart, it not showing a good signal for a strong bullish trend which therefore please be carefull for any "bullish trap" scenario. So, advisable to wait an entry for a bearish reversal trend instead of bullish continuation. And also, please consider that wave v maybe only a truncated wave. Good luck and happy weekends.

[TheRumpledOne]

[4xStar]

Is there any commentary for the chart below?
For instance, what do all those large numbers mean?