Finally the price reached my 2nd TP which is FE 100% point. I believed the price will start to retrace back in making wave b. But if the price break the "long critical point 2", we might have a Bearish Continuation. Preferable - Retracement.
At the moment we have a very strong Bearish Continuation. I'm still looking for any Bulllish Reversal signal (retracement) later. A breakout at the upper DT trendline would boilster this point of view. Otherwise we shall see another Bearish Continuation later. My tips - waiting for any Bullish Reversal Signal if there is ?
We have a very strong Bearish Continuation at the moment. And there is no reversal/retracement signal from BSTS. The price already reached my TP2 for today. So its better to take your profit and wait for another continuation signal or reversal signal from BSTS later. Watch closely also for any breakout later.
Bullish Reversal Signal ? At the moment, its like a "Double Bottom" (blue rectangle). As long the long critical line 3 has not been taken, a Bullish Reversal idea is valid. Otherwise we will see a Bearish Continuation again. Wait for a good either Bullish Reversal Signal or Bearish Continuation Signal from BSTS before making any entry.
GJ 1H Chart - Market in Bearish trend but most probably there will be a correction (retracement) to complete wave iv before another bearish continuation to complete wave v and c.
GJ 4H Chart - I still believed there will be a retracement to complete wave 4 before another bearish continuation to complete wave 5 and c. Or there might be a straight bearish continuation in making a "Triple Bottom".
GJ Daily Chart - Shows a bearish breakout to complete wave C and V. I believed there will be a 1 2 3 4 5 wave before to complete wave C and V.
At the moment, the price already break my long major critical line. Due to this scenario, I prefer a Bearish Continuation if the breakout is true breakout. But otherwise as we can see, the blue triangle channel trendline is getting smaller so I presumed there will be a retracement soon. Also, as we can see there are a triple bottom pattern, maybe. If this triple bottom is a true signal and valid, then I believed there will be a bullish reversal to complete wave 2(alt count in white) in previous daily chart thats I have posted earlier. My tips is to wait for a good BSTS long retracement entry signal (refer to bigger tf1H/4H only) if there is. Good luck trading and have a nice day.
The price already kissed my FE 100% (203.48) and at the moment I believed the price will do a correction(retracement). A breakout to the upper triangle trendline(blue) will boilster this point for view. But if the price break the lower trendline, most probably we wll see another continuation. Just wait for a good signal from BSTS before make a long entry. Preferable - Retracement.
At the moment, I believed the price in the correction phase (retracement) and will move up along inside the green triangle to complete wave iv before another bearish continuation to complete wave c and 5. As long the price not break the major long critical line, this scenario will be valid. But if we have a breakout to the lower trendline of the green triangle and its continue to break the major long critical line, it can be consider that we are already in a bearish continuation. the other option is an alt count (in white) where as the market are in bullish reversal. A breakout to the short critical point will boilster this alt count idea. Preferable - Correction Phase (Retracement - in wave iv). Wait for a complete signal from BSTS before making any entry.
I still believed wave iv is far from complete yet. A breakout to the upper triangle trendline would boilster this point of view. Look for a bulish continuation signal from BSTS to confirm this scenario. Otherwise we might see a double bottom later. Preferable - Retracement.
It seems that the price cannot break the upper triangle trendline and therefore break the lower which I believed making a "Double Bottom" pattern. As long the price not breaking the bearish continuation critical line, we still have a valid retracement scenario. But the other possibility is that the price might have a false breakout to perform an "Inverted Head & Shoulder" which is a sign for a Bullish Reversal trend. Otherwise if its a true breakout, then we will see a bearish continuation to complete wave v and c. Preferable - Double Bottom and Retracement.