Unless we have a true breakout to the bullish continuation line 4, I believed we shall see a retracement phase to complete wave 4 and later a bullish continuation to complete wave 5 for this week with condition the retracement critical line is not been taken. Please study all possible counts and my previous Pre-Market Overview post. Please wait a good signal from BSTS before making any new entry. Good luck for this week trading.
At this moment, price moving downwards performed a bearish trendline channel. Therefore, got 2 possibility which is either abc in magenta or abc in cyan. I�m waiting for a bearish continuation or a bullish reversal signal from BSTS. Tips -Please wait for a complete bullish reversal signal from BSTS before making any entry later. Good luck.
I am a newbie here but quite impressed by yours Elliot’s wave experience. Could you just clarifiy to me what is the BSTS stands for and what sort of signal is that. Where can I find it ?
I would be grateful for any help
Regards
hi,
BSTS aka “Bujang Senang Trading System” is a trading system that I setup to asisst me during forex trading. Its is custom made trading system which is consist total of 12 set indicators. This system is part of my syllabus in my forex workshop. And this system, can only be use together with an Elliot Wave knowledges.
have nice day and good luck.
At this moment, we have 2 main possibility which either this downtrend refering to wave 4 or just only a. The strength and volume preferably indicates for wave 4 but it just look to simple for wave 4. But overall, unless the retracement critical line is taken, this wave 4 scenario would still be valid. Expecting for a bullish reversal signal later from BSTS for wave 5. Please take notes for all the critical lines. Good luck.
I�m still waiting for a bullish reversal signal from BSTS. Therefore, I indicates the suggested possible bullish reversal count for wave 5 later if VALID which is either the cyan or magenta count. Please make a long entry only if there is a good signal from BSTS. Otherwise, we may see further bearish continuation later. Also just to remind, wave 5 could be a truncated wave (yellow/magenta count). So its not necessarily if the price start to bullish soon, it will follow the white/cyan count. Good luck.
At this moment, we have 3 possibilities which is :-
Wave 4 is completed - wave 5 in progress favourably in yellow count.
Wave 4 is completed - wave 5 in progress favourably in white count.
Wave 4 still not complete - in cyan count
So, please becarefull until we can see the real trend later. Good luck.
At this moment, the scenario still like my previous forecast (yesterday update #2). Please refer from BSTS 3 for any continuation signal and BSTS 2 before making any entry. Good lucks.
At this moment, its look like wave 4 still in progress and not complete yet. Is either favourable to count in cyan or yellow. Therefore, advisable to wait for signal from BSTS 3 and BSTS 2 for any bullish continuation signal later. Otherwise if the price break my retracement critical line, then we shall see a different scenario. Good luck.
At this moment, price moving inside my teal triangle and I�m waiting to see any breakout to determine which count is more preferable. I believed most probably wave 4 is a truncated wave and this could apply same to wave 5 later. Please do an analysis to BSTS 2 - Daily to assist you in having a bigger pictures what is the next major trend would be. Please wait for a good signal from BSTS before making any entry. Good luck.
At this moment price looks like going to make a breakout to the lower teal triangle. Either its a true or false breakout, we only can determine later. I came out with new alternate count which is in magenta. So its better to wait for a real trend to be unfold and any good signal from BSTS either a bullish continuation or a bearish reversal. Good luck.
At the moment, please study all possible count (yellow, white and magenta). Please be extra carefull if wave 5 is truncated later. Only make an entry, if there is a good signal from BSTS (bullish continuation or bearsih reversal later).
Tips : Monitor signal from BSTS 3 later and entry confirmation from BSTS 2.
Good luck.
At this moment, I believed market in subwave iii in wave 5. Either wave 5 is truncated wave (yellow) or an impulsive wave (white), I can only determine later. Preferable to monitor any bullish continuation or bearish reversal signal from BSTS later. Please wait for a good signal from BSTS before making an entry. Have a nice weekends.
Market in small retracement phase at the moment. Unless the price break the pivot point, I believed there will be a bullish continuation later to complete wave v and 5. Looking forwards for a wave 5 truncated later unless the price break my bullish continuation critical line 4. Good luck and happy weekends.
[B][U]Gbp vs Jpy 1H, 4H & Daily Pre Market Overview[/U][/B]
Chart 1H - Please study all the 3 possibility wave counts (yellow, white & magenta) and try to analyze which one is more preferable. If there is a bullish continuation, then we shall see either wave 5 is truncated (yellow) or an impulsive (white). Unless price break the retracement critical line which is favourable to magenta count, the bullish continuation scenario would still be valid.
Chart 4H - Unless there is a true breakout to the bullish continuation critical line 2, I believed most probably wave 5 will be a truncated wave scenario. Therefore please looking for a bearish reversal signal from BSTS later.
Chart Daily - Unless we see a true breakout to the upper lime trendline and later to the bullsih continuation critical line 2, I believed market preferably in magenta a b c counts to complete major wave b (yellow). Overall, last week daily pre market oveview chart forecast are still valid until this moment. Otherwise we may see a bullish continuation to complete wave c (white) and 4 (cyan) later.
[U][B]Summary :-[/B][/U]
Preferable, market in bullish continuation phase to complete wave 5 which is favourably a truncated wave…
Please looks for a bearish reversal signal from BSTS later once wave 5 is completed. Adviseable to wait for a complete triggered BSTS signal before making any entry. Good luck.
Unless the price break my bullish continuation line 3, I strongly believed wave 5 could be a truncated wave (yellow). Either the price will make a �double top� later, I can only determine soon. Therefore please looks for a bearish reversal signal later from BSTS if this scenario would still valid. Otherwise we may see a strong breakout to complete an impulsive wave 5 (white).
If truncated wave 5 already established (magenta) and the “diagonal triangle” (green triangle) pattern is valid, then I believed market is in bearish reversal trend. Otherwise, we may see another bullish continuation signal later on. Anyway, don’t forget that tomorrow is a Showa day in Japan (holiday). Good luck.
At this moment, price already break my bullish continuation line 2. Unless the price make a strong true breakout to the bullish continuation line 3, the wave 5 truncated scenario would still be valid. A true breakout to the lower red trendline would bolster the bearish reversal trend scenario. Therefore please be extra carefull and please wait for any signal from BSTS 3 before making any entry. Good luck.
At this moment, price already break my lower red trendline. Unless the price make another bullish continuation and break my bullish continuation line 3, I believed a truncated wave 5 already completed and market in progress of bearish reversal trend to perform a corrective wave a, b & c later this week. Please wait for a complete signal from BSTS 3 and 3 before making any entry. Good luck.
Note : Today is a Showa day in Japan (Holiday)
As expected, I believed a bearish reversal trend already began since the price already break my retracement critical line (magenta) and at the moment, the price already hit my TP 2. A pull back to complete wave b after subwave v in wave a is completed would bolster this scenario as long the previous high at bullish continuation line 2 still intact before another series of downtrend movement to complete wave c. At this moment, either we shall see a retracement to complete subwave iv before another downwards to complete subwave v (as long my retracement critical line in cyan still intact) or another continuation to perform an extension for subwave iii. Please study the a, b & c alternate counts in yellow and magenta. Good luck.
Tips :
Please look for a continuation for subwave v after subwave iv is completed.
And later a reversal signal for wave b from BSTS after subwave v is completed further later on.
Until now, market in bearish continuation (subwave wave iii extension). Either there will be another bearish continuation or market will start a retracement to perform a subwave iv, I can only determine later. Please study all alternate counts and focus on BSTS 3 for any signal later. Make sure to wait a confirmation from BSTS 2 later before making any entry. Good luck.