GBPJPY : Bullish with some retracement

11:50 AM +GMT8

Current state : Market continuously BULL... and there is still no significant sign for any reversal or any correction...The market movement little bit slow

H4 and H1 : The series of candle shows bullish with some retracement. The only thing that I can see... 2 resistance level.... 205.42 and 207.96

If we refer to EMA20 and EMA100
EMA20 - strong support at TF H4 and H1
EMA100 - strong support at TF M5, M15 and M30

GBPJPY : (Update)

1:55 Pm +GMT8

The price created new high at 204.18 and continuously BULL...
The conditions of candlestick for all time frames indicates the STRONG BULLISH...

However... candle at H1 not yet significantly break the previous high... and... it's not a good idea to enter BUY while the price continuously up....

What I supposed to do ... waiting for H1 truly breakout... price make some retracement... M5 candle confirm fractal.... then I will go LONG

GBPJPY : Correction Phase or Down Trend

Time : 10:20 am +GMT 8

H4 & H1 : At the moment, the CS pattern shows most likely correction phase occured on H4 and H1 before continue Bull on major Up Trend
M5 : If we look closely to M5 there are still 2 posibilities...
1. Bearish to find new lowest. The critical support level for confirmation >> 203.08
2. Bullish continuation after some retracement. The critical resistance level to confirm >> 204.02

Waiting for confirmation....

GBPJPY : Triple Top or Major Reversal

Date : April 2, 2008
Time : 10:30 AM +GMT 8

H4 : Chart form triple top. The critical area, strong resistance level = 201.79
H1 : Chart form double top. Previous High = 201.07
Preference : BEARISH... but at the moment it's not really confirm. Price has to break the key point, support level 200.88 for confirmation...
Suggested entry : Waiting for break out

My Future Prediction (Expectation) :
Bear candle will able to break 200.88 to confirm bearish.... and for long term price could reach 195.41.
The prediction will fail if... somehow... price from this current point goes BULLISH and break 201.07 level, the critical point for MAJOR REVERSAL (BEARISH to BULLISH)


Time : 1:42 PM +GMT 8

Unexpectedly... Price already broke resistance level 201.79 and H4 triple top became invalid.... It could mean MAJOR REVERSAL. There is no other option unless waiting for the next H1 candle for clues. Is it only spike or trully breakout???
If this is trully breakout (pass 1 candle)... I will waiting the best entry to BUY on deep ... at least 1 countered candle...

As I said everything depend on probabilities... anything could happen on FOREX.... it doesn't matter what counting of EW ... or what pattern of chart. Fortunately... my suggestion for SHORT entry.... "wait untill truly support level breakout".

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