Chart 1H - Market in strong bearish trend and peferable in wave 3 at this moment. There are 2 possibility which is either a bearish continuation to perform an extension of wave 3 or a bullish retracement to perform wave 4 if wave 3 is already completed. Preferable to wait for a bullish retracement signal from BSTS to perform wave 4 and later a bearish continuation signal from BSTS to perform wave 5 once wave 4 is completed.
Chart 4H - Basically, I divided the market into 4 major zones which is :-
1) Green Zones - a bullish bias zones if my retracement critical line is taken.
2) Teal Zones - a retracement zones which is preferably market will make a bullish retracement to complete wave 4 before another bearish continuation trend to complete wave 5. But please watch closely my retracement critical line. A bearish continuation trend to perform wave 5 will be invalid if this line is taken.
3) Maroon Zones - an extension bearish bias zones - a bearish continuation trend for an extension of wave 3 if there is a true breakout to the bearish continuation critical 3.
4) Red Zones - a major bearish continuation bias zones - a major bearish continuation trend is my bearish critical line 5 is taken.
Please noted that there is a probability for wave 5 to be either a truncated wave or an impulsive wave.
Chart Daily - Please analyse the 3 possibility alternate wave counts before making any entry and later decide which counts is more favourable from BSTS signal.
Summary :
1) Preferable to standby for bullish retracement signal once wave 3 is completed.
2) Looks for a bearish continuation signal from BSTS to perform wave 5 once wave 4 is completed.
3) Wave 5 could be a truncated wave or an impulsive wave.
Good lucks.
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