GBPJPY : Let see what will happen

9:17 am gmt +8

BDStochRSI indicates strong BEARISH in all timeframes... let see what will happen.

*** Warning : This is just a test

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Update
9:25 am gmt +8

Close 40 pips when BDStochRSI : H4 - High risk sell (it means oversold and against BEAR direction).

I'm waiting for next signal....

New BlueDream's indicators

There are two indicators :

1. BDStochRSI_Bar
Summarized the signal from standard Stochastic and RSI. I will use this indicator on H4. The signals generated by this indicator are :
- UP
- DOWN
- Correction(Up)
- Correction(Down)
- High Risk SELL
- High Risk BUY
- No Signal
The indicator could save time, simplified analysis and reduce human error.

2. BDBestEntryAlert
This indicator won't show the direction of market but it's aim to get the best among the best entry point for BUY and SELL, so that our post will follow the price movement as soon as we enter the market. I will use this indicator to read M5 pattern (fractals and engulfing) for entry point. Moreover, the signal generated earlier before current candle complete (as soon as the pattern captured by program)... so that we won't miss even few pips (the idea of indicator's creation). The indicator display alert box, no need to watch chart on every single moment to get entry point.

For example : Let say the indicator on H4 shows that the market will up.... by using BDBestEntryAlert, i will accept only on BUY signal to enter the market

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Update


I've updated the BDStochRSI_Bar. The indicator display signal summary for all timeframes and indicator's bar not displayed.

The signal result was actually same (or maybe accidentally same) as what i have summarized on my price action analysis using candles formation... where biggest timeframes indicates strong BEARISH and no sign yet for BULL while H4 indicates weak BULL.

Please refer my post on Saturday, August 30, 2008 - GBPJPY : My Next week trading option.

GBPJPY : My next week trading option

I might take only SELL signal... Depend on H4 situation...
Or if market wish to go UP, maybe I have to let price goes high as high as it can... I expect that the price won't able to pass the second trendline for the first swing...

**** Reminder : I trade more on scalping... interact with candles formation... and the analysis might not suitable for some traders

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HAPPY NATIONAL DAY TO ALL MALAYSIAN
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GBPJPY: Price relatively low, for LONG position

10:07 gmt+8

Watch carefully the previous candle's low 200.46. It's laid at H4 support area. I expect market will BULL if price not able to broke the level.

At the moment, price relatively low, 43 pips from the level for LONG position. The reasonable SL if I enter LONG now would be 43+8 pips from current price.

2 hours and 50 minutes to go (from the time i framed the picture) to form H4 fractal

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Result
12:59 pm gmt +8

Price broke 200.46 and achieved new low 200.32.... The price currently retest the level 200.46

GBPJPY : BEARISH will win???

10:45 am gmt +8

Regarding to the last 3 candles High and Low analysis, we found that the market gave more pressure on support level...

It's similar to the Descending Triangles pattern. In the most cases, BEARISH will win at last

***** Warning : It's only my opinion *****

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Result
11:42 pm gmt +8

After broke support level 201.37 price dropped for about 88 pips before BULL running wild for a little while.....

GBPJPY : Double bottom or breakout?

2:17 pm gmt +8

BEARISH already began.
Watch closely the critical support level 207.74
Market will soon to form double bottom or H4 lower fractal breakout....
My suggestion is set TP several pips above 207.74 and wait for next price action

GBPJPY : Looking for next SHORT entry

11:41 am gmt +8

Since BEARISH get control in the market... I will only looking for the best SHORT entry

GBPJPY : Result

10:00 am gmt +8

It's happen exactly as forecast ....
At the moment, there is no signal for futher. But I expect that BEARISH still control the market. I might wait price to go as high as it can for SHORT entry