Sunday, August 31, 2008

Gbp vs Jpy 1H, 4H & Daily Pre Market Overview


Chart 1H - Due to the current scenario, I believed subwave 3 (magenta or yellow) is in progress and looking forward for a retracement to complete subwave 4 (magenta or yellow) once its completed. Otherwise market will perform a major corrective abc according to the alt count in white.


Chart 4H - At this moment, market still in strong bearish continuation either to complete subwave 3 (magenta or yellow) or major wave 5 (white). Advisable to wait for a very good bullish retracement or bearish continuation signal later from BSTS.


Chart Daily - Preferably I believed market in progress to perform major wave 5 either referring to the alt count in yellow or magenta. My trading strategy for this week or next following week is to look for a good bullish reversal entry signal later to complete corrective abc once wave 5 (magenta or yellow) or subwave v (white or megenta) is completed.

Summary :

1) Market still in strong bearish continuation trend either to complete subwave v (magenta or yellow) or wave 5 (white).

2) Advisable to look for either a bullish retracement or reversal entry signal later once subwave v or major wave 5 is completed.

Selamat menjalani ibadah puasa di bulan Ramadan. yang mulia ini.
Happy Ramadan.

Good luck.

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