GBP/JPY Technical Analysis

[Jebatfx]

Looking forward for any breakout either to the upper or lower teal triangle trendline before I can confirm which count is more preferable. I'm still bias towards a bearish continuation trend within this few weeks but anything can happen. So please be carefull before making any entry. Good luck.

[trav72]

but was wondering maybe someone here can explain what does Jeb mean by BSTS

[Jebatfx]

Originally Posted by trav72

but was wondering maybe someone here can explain what does Jeb mean by BSTS

BSTS refering to my trading system called Bujang Senang Trading System which consist of BSTS 1, 2 and 3. Good luck.



At this moment, price still moving inside the teal triangle. I'm looking forward for a symmetrical triangle pattern abcde (cyan) which is synonym to a bearish continuation corrective pattern to be perform later today. Please noted that there will be a NFP announcement later tomorrow at 8.30 pm (GMT 8+). A further breakout to the lower teal triangle and bearish continuation line 2 would bolster the bearish continuation scenario. Otherwise a true breakout to the upper major green trendlines would put this scenario in critical moment. Good luck.

[4xStar]

Originally Posted by trav72

but was wondering maybe someone here can explain what does Jeb mean by BSTS

trav, you have to fly to Malaysia and take his course to learn the Secret to BSTS. Jeb .. c'mon, you need to find a way to make this into an e-course that we can learn online.
Have mercy on those of us on the other side of the world from Malaysia!

[Jebatfx]

At this moment, I'm looking forward for completion of subwave e and ii (yellow) before expecting any possible bearish continuation later tonight. But please monitor those triangle for any breakout either to the upper or lower trendlines. Although I'm bias towards a bearish continuation but please bear in mind, anything is possible. So please be carefull. Therefore please analyse all possible counts (magenta/yellow/white) and decide which is more preferable. Happy weekends and good luck.

to 4xStar : I will consider about it but I cannot promise anything.

[ctrader]

Just wanted to say this is great info!

[Jebatfx]

I'm looking forward for a completion of corrective subwave e (cyan) and ii (yellow) before expecting any possible bearish continuation movement. A strong resistance from the major upper green trendline (triangle) would bolster this point of view. But please be carefull if the price make a true breakout to the upper green triangle trendline. Good luck.

[Jebatfx]

Please analyse both alt counts either in yellow or white. Preferably, I'm looking for a bearish continuation trend refering to alt count in yellow.. A further downside movement and a true breakout to the lower red trendline would bolster this scenario. Otherwise, a breakout to the upper green trendline and later to the bullish continuation line 1 would favour to the alt count in white. Have a nice weekends.

[Jebatfx]

Until this moment, price just been rejected from the major upper green trendline. Please noted that I made some adjusment to the alt count in yellow and magenta. I believed subwave e (cyan) and ii (magenta) is already completed and looking forward for a further downside movement later next week for a bearish continuation to complete subwave iii (magenta or yellow). Favourably, a breakout to the lower major red trendline would bolster this scenario. Meanwhile, a further breakout to the upperside until the bullish continuation line 1 would put the bearish continuation scenario in major doubt. Good luck.

[Jebatfx]

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



Chart 1H - Please noted that there was 3 possible alt counts which is either magenta, yellow or white. Preferably, I'm looking for bearish continuation either refering to alt count in magenta or yellow. Therefore, please confirm form your BSTS for any bearish continuation entry signal. Otherwise we may see a bullish trend according to the alt count in white.



Chart 4H - I'm looking forward for a completion of subwave ii (magenta or yellow) before expecting for any bearish continuation trend. A further breakout to the lower major red trendline would bolster this scenario. Otherwise if the price move further upwards and made a true breakout to the bullish continuation line 2, this scenario would be invalid.



Chart Daily - I'm looking forward for a valid reversal diagonal triangle pattern (rising wedge) which is refering to a bearish reversal trend to perform either to alt count in magenta or white. But please be carefull for any bullish continuation trend refering to alt count in yellow.

Summary :

1) Preferably looking for a bearish continuation trend and a further breakout to the major lower red trendline would bolster this scenario. This scenario would be invalid if there is a breakout to the bullish continuation line 2.

2) Please also be carefull for a possibility of the bullish trend. A true breakout to the bullish continuation line 2 would bolster this alt counts.

Happy trading and good lucks.