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Sunday, July 27, 2008
Gbp vs Jpy 1H, 4H & Daily Pre Market Overview
Chart 1H - I'm looking forward for a completion wave b (yellow or magenta) before expecting another bearish reversal trend to complete correctice wave c (yellow or magenta). Please watch carefully the trendlines and all critical lines for any breakout or rejection/bounce scenario. Advisable to look for any bearish entry signal from BSTS later.
Chart 4H - I believed price have to perform a bearish trend either to complete :-
1) Corrective wave c once b is completed (yellow).
2) Corrective subwave b (cyan) in b (magenta).
3) Retracement wave 2 before another bullish continuation to complete wave 3 (white).
Chart Daily - Preferably I'm looking for a bearish reversal trend entry signal later next week with condition the diagonal triangle pattern in yellow is valid. I believed market in the ending stages of bullish trend and a breakout to the lower yellow trendline would bolster this scenario. Please be noted that there are 2 possible scenario according to daily analysis which is either we shall see a further bullish continuation to complete wave v and c (yellow) or a completion of subwave ii (white) before expecting to see any bearish reversal trend later next week.
Summary :
1) Preferably I'm looking forward for a completion of wave b either refering to the alt count in yellow or magenta (double top) before expecting a bearish reversal trend to complete major corrective wave c (yellow or magenta).
2) Please be careful for any bullish continuation trend scenario according to the alt count in white (Chart 1H & 4H). A further breakout to the bullish continuation line 1 and 2 would bolster this scenario.
Good luck.
Extra tips : Please analyse Eur/Jpy pair for any bearish entry signal.
p/s : untuk makluman semua, atuk saudara Andika, Allahyarham Hj. Sidek Bin Awang baru saja pulang ke rahmatullah pada 10.25 pm. Ucapan takziah dan Al - Fatihah kepada allahyarham semoga roh beliau sentiasa di rahmati dah tergolong dalam orang orang yang beriman, amin.
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