GBP/JPY Technical Analysis

[Jebatfx]

I believed the price will make a retracement again to perform a "Head & Shoulder" pattern before start to DT again to complete wave c. Or another count is there will be a Bearish Continuation to complete wave c (a b c in white). Unless the price break the upper DT trendline, the Bearish Reversal speculation would still be valid. Preferable - A Retracement before another Bearish Continuation

[gmos]

nice analysis bro..
tak sangka ada juga elliottician laypak sini...baru perasan..

[ramfir]

sperti yang dijangka, trend telah berubah kepada bearish.

[Jebatfx]

Originally Posted by gmos

nice analysis bro..
tak sangka ada juga elliottician laypak sini...baru perasan..

Tq.



At the moment, the market in Bearish Continuation preferable until FE100% and there is no signal yet for any reversal (correction).

[Jebatfx]

I believed the market in correction phase (retracement) to complete wave b (yellow) and further later will going down again to complete wave c. As long as the price not breaking the short critical line, a Bearish Continuation would still be valid. Otherwise, a Bullish Reversal idea came cross to my mind (alt count a b c in white). Watch carefully the trendlines and those critical points before making any decission. Wait for a good signal from BSTS before making any entry.

[Jebatfx]

Finally the price reached my 2nd TP which is FE 100% point. I believed the price will start to retrace back in making wave b. But if the price break the "long critical point 2", we might have a Bearish Continuation. Preferable - Retracement.

[Jebatfx]

At the moment we have a very strong Bearish Continuation. I'm still looking for any Bulllish Reversal signal (retracement) later. A breakout at the upper DT trendline would boilster this point of view. Otherwise we shall see another Bearish Continuation later. My tips - waiting for any Bullish Reversal Signal if there is ?

[Jebatfx]

We have a very strong Bearish Continuation at the moment. And there is no reversal/retracement signal from BSTS. The price already reached my TP2 for today. So its better to take your profit and wait for another continuation signal or reversal signal from BSTS later. Watch closely also for any breakout later.

[Jebatfx]

Bullish Reversal Signal ? At the moment, its like a "Double Bottom" (blue rectangle). As long the long critical line 3 has not been taken, a Bullish Reversal idea is valid. Otherwise we will see a Bearish Continuation again. Wait for a good either Bullish Reversal Signal or Bearish Continuation Signal from BSTS before making any entry.

[Jebatfx]

GJ 1H Chart - Market in Bearish trend but most probably there will be a correction (retracement) to complete wave iv before another bearish continuation to complete wave v and c.



GJ 4H Chart - I still believed there will be a retracement to complete wave 4 before another bearish continuation to complete wave 5 and c. Or there might be a straight bearish continuation in making a "Triple Bottom".



GJ Daily Chart - Shows a bearish breakout to complete wave C and V. I believed there will be a 1 2 3 4 5 wave before to complete wave C and V.