GBP/JPY Technical Analysis

[Jebatfx]

Originally Posted by mykungfuisgood

hey o! good to have ya back jeb

nice to see u also. Good luck and happy trading.



Please be noted that due to the breakout of the major bearish continuation critical line 1, both previous alt count in yellow and magenta already become invalid. I believed market in progress to complete subwave 3 (yellow) or an extension subwave 3 (white) in wave v/5 (yellow or white) before expecting a retracement to complete subwave 4 and 5. Preferably, look for any bullish entry signal once major wave 5 in completed. Good luck.

[Jebatfx]

I believed market in progress either to complete subwave a (magenta) or subwave 4 (white or yellow) before expecting for another bearish continuation to perform either subwave b (magenta) or subwave 5. Preferably, I'm looking forward for a bullish reversal trend to perfom once either subwave b (magenta) or subwave 5 in v/5 (white or yellow) is completed. Good luck.

[Jebatfx]

Preferably, I'm looking forward for a bearish trend either to complete wave b (magenta) or a truncated wave v in 5 (yellow) before expecting for another bullish continuation trend. Otherwise we may see another strong bearish continuation trend to complete an impulsive subwave v in 5 (white). Therefore, please watch carefully both magenta and white/yellow critical line for any breakout to confirm which alt count is in progress. Good luck.

[Jebatfx]

At this moment, I'm looking forward for a bullish reversal trend later referring to either alt count in magenta or yellow. I believed market in progress either to complete corrective wave b (magenta) or subwave v in 5 (yellow) before expecting a bullish reversal trend. A true breakout of the bullish continuation critical line 2 would bolster this scenario. Otherwise, this scenario would be invalid if there is any true breakout to the magenta critical line which is would favour to the alt count in white. Good luck.

[Jebatfx]

Due to the latest scenario, please be noted that alt count in magenta is already invalid. Preferably, market still in progress to complete subwave v in 5 (yellow or white) and I'm looking forward for a bullish reversal to perform corrective a, b and c once its completed. Therefore please look for any good bullish reversal signal from BSTS later. Good luck.

[Jebatfx]

At this moment, please analyse the latest possible alt counts and favourably, I'm looking for bullish reversal to perform corrective a, b and c once wave 5 (magenta, yellow or white) is completed. Please watch closely the critical lines and trendlines for any true breakout. Good luck.

[Jebatfx]

Due to the bearish continuation trend, please be noted that the previous alt count in magenta already invalid. Therefore please analyse the latest possible recount waves. I'm still looking forward for a bullish reversal (magenta or yellow) trend once wave 5 is completed. But please be careful for any extension of wave 5 (white). Good luck and happy weekends.

[Jebatfx]

At this moment, I believed market in bullish reversal trend and in progress to complete the corrective subwave c in a (magenta or yellow or white). Expecting to see a bearish retracement to complete wave b later before another bullish continuation to complete wave c. Therefore, please look for any bearish retracement entry signal to perform wave b and later on a bullish continuation entry signal to perform wave c (once b is completed) from BSTS later within this week. Good luck.

[Jebatfx]

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

1) Magenta - market already completed wave a and in progress to perform corrective wave b.

2) Yellow - market in progress to perform subwave 4 in c in a before expecting a truncated subwave 5 in c in a.

3) White - market in progress to perform subwave 4 in c in a before expecting an impulsive subwave 5 in c in a.

Therefore, overall strategy, advisable to look for any bullish continuation entry signal later from BSTS either to perform wave c in magenta or subwave 5 in yellow and white.

Good luck.

[Jebatfx]

Preferably, I'm looking forward for a further bullish continuation trend either to complete a truncated subwave 5 (yellow) or an impulsive subwave 5 (white). Otherwise we may see a bearish trend to complete corrective wave c in b according to the alt count in magenta. Good luck.