This Week Fundamental Event Calendar (Fundamental Analysis)
This week my Gbp/Jpy (Technical Analysis)
Gbp vs Jpy 1H, 4H & Daily Pre Market Overview
Chart 1H - At this moment, I believed wave iv already completed and looking forward for a bullish continuation to complete wave v. Please noted that there is 3 possible scenario for wave v later which is either :-
1) Yellow truncated - which ic wave v only perform a double top before another major bearish reversal trend.
2) Magenta truncated - which is wave v will be more shorter before anoher major bearish reversal trend.
3) White impulse - which is wave v will be an impulsive wave with condition there will be a true strong breakout to the bullish continuation critical line 1.
Advisable to look for a good bearish reversal signal later from BSTS.
Chart 4H - Please analyse all the alternate counts and my 3 divided zones which are :-
1) Green Rectangle Zone - bias to a bullish trend which is preferably for alt count in white.
2) Maroon Triangle Zone - bias to a bearish bias trend which is preferably once wave v is completed.
3) Red Rectangle Zone - bias to a strong bearish trend which is preferably market in determination to complete subwave c in aqua and wave B in yellow.
Chart Daily - Please noted that I did some changes for yellow wave count and as long the upper green major trendline stay as a strong resistance, preferably we shall see a major bearish trend later to complete subwave c (cyan) and wave b (yellow) or wave 5 and C in magenta. Otherwise if the trendline is taken and its a true breakout, then perhaps market is favourably to alt count in white. Look carefully for any breakout to my teal triangle zones.
Summary :
1) Looking forward for a bullish continuation trend to complete wave v.
2) Wave v could be a truncated wave (magenta or yellow) or an impulsive wave (white).
3) Please analyse all 3 possible counts and determine which one is more favourable by applying to it with your trading system (BSTS).
4) Advisable to standby for a major bearish reversal trend once wave v is completed.
Good luck.
Data Source :
Forex Forum, Forex Calendar, Forex News @ Forex Factory
Malaysia Forex Training Centre