Gbp vs Jpy 1H, 4H & Daily Pre Market Overview
Chart 1H - Please analyse all possible alt counts and determine what is your trading strategy for next week. Preferably, I'm looking for a bearish reversal trend either to the yellow or magenta. Please be noted that if the double top is valid, then favourably market will perform a truncated wave 5 (yellow). Otherwise if this bullish continuation line 2 is taken, then we may see a trend to complete either refering to the alt count in magenta or white. Please confirm your entry from BSTS signal.
Chart 4H - Preferably, I'm looking for a completion of subwave 5 and b (yellow) before expecting a bearish reversal trend to complete corrective wave C (yellow). A valid double top pattern would bolster this scenario. Otherwise if there is a true breakout to the bullish continuation line 2, this scenario would be invalid.
Chart Daily - At this moment, market in the phase either to complete subwave ii (magenta or white) before expecting for another bearish reversal trend or to complete subwave v (yellow). If level 213.87 standing as a strong resistance, then we may see a bearish reversal trend. Otherwise if this line is taken, then preferably market in the process to complete subwave v and wave C in yellow.
Summary :
1) I'm looking for a bearish reversal opportunity either to the alt count in yellow or magenta. An establishment of a "double top" pattern would bolster the alt count in yellow.
2) Otherwise if the bullish continuation line 2 is taken, then preferably market either to complete subwave v (magenta) or subwave 3 in white (TF 1H & 4H).
3) Please be carefull for any bullish trap scenario.
Good luck.
Extra tips : Please also analyse wave structure in Eur/Jpy and look for any possible entry signal from BSTS.