Answering honestly, my heart says that it's so overbought that it ought to correct down. In a similar way to the historical record i offered earlier. My brain says that it was in a rising and bullish channel, that it has just fallen back into for ...

Dragon Riders GBP/JPY

What concerns/intrigues me about these moves is that there is an almost reverse (mirror image) symmetry with the earlier moves from April 2011 and going backwards. On or about March 3 2011, price fell to 122, from where it recovered to 140 (but the ...

Dragon Riders GBP/JPY

Well, it still climbs slowly in what appears to be a rising wedge. So, it either corrects down from about here (135.4) or it corrects up higher. I used the term "appears" wrt a rising wedge, but it can also morph into a rising channel (ie fallback ...

Dragon Riders GBP/JPY

Suspect 135.2 might halt it or at least correct down a little. Weekly moving average 25 - was associated with price capping at 188.5, stopped it at 163.5, then 159.8. Also just over 76.4 of 138.7 vs 122.6 Failure to even respond though, could mean a ...

Dragon Riders GBP/JPY

4hr. Going over 131 destroys it. Under 128.3 sets up a picture perfect reversal pattern for at least 124 with bounce circa 126. Retest 128.3 to 129 edit not taking it though. Just watching

Dragon Riders GBP/JPY

If it breaks the top, I'll take it as bullish to 131 and maybe well above. Otherwise, a large expanding triangle, being a very old GJ favourite that we really haven't seen for some years. Such a formation would retest back into about 123. Centre ...

Dragon Riders GBP/JPY

Kind of still suspecting a broad triangle type pattern that may yet break down towards 123.5/124 next before more moves later modified from this post url Although recent moves are vaguely reminiscent of those around 170 ish, so the crap could ...

Dragon Riders GBP/JPY

The move up from a total and complete bottom may be in the vicinity of 24 to 36 months. It's a strange conversation, as i only did those numbers and times a few hours ago. The downside though depends on falling out of 114/115 (not 117)

Dragon Riders GBP/JPY

Conversely, I estimate only 3-4 or so months run until the bottom, at which time Sterling yen completes a 30 + year move. Either way, a new low. Upon completion, a likely run back to at least the 50% level circa 275ish

Dragon Riders GBP/JPY

Said this a while back on July 8. Got a couple of numbers wrong but..." Upside move.....no idea. Well yes 136 or even 139 is possible Downside move ... Down to about 122, with consolation thereafter, probably a triangle between 128 and 122, centred ...

Dragon Riders GBP/JPY

Given the apex of this current structure being at 127.25 ish, its future is still open. Then again maybe the 0748 out of NYC will tell us all we need to know. Chuck in a few religious overtones and you're off to the races. Looks like a triangle, but ...

Dragon Riders GBP/JPY

It is 10.09 in the morning

Dragon Riders GBP/JPY

127.76 .Is now flipping. 4hr at 0.06 strength. 1~2 is oversold. Daily still OK. 4hr hidden divergence addresses by significant breakup or return to 127.1/2

Dragon Riders GBP/JPY

Right on the daily gann. Which has not yet flipped

Dragon Riders GBP/JPY

Pretty much how I did the measurements and guesstimations for GU in the Brexit case. Fib fans referenced to obvious centre of structure, against the largest centre spike, being Feb 2011. No use to anyone who only trades on lower TF than daily image

Dragon Riders GBP/JPY

The poster in question has been around for more years than I. He's been on the Auslanco thread that had a MASSIVE following and wrote many of the rules of trading GJ. Obviously none of those rules were learned. He's been on each and every Sterling ...

Dragon Riders GBP/JPY

If you feel compelled to ask, it means you have no idea. FX ray did a fine job here, but even during his presence I opined that he was was purely handing out free trade calls, suggesting that no one would learn a damned thing. And, whilst his ...

Dragon Riders GBP/JPY

UJ. After yesterdays move up, does it truly have support beneath it? Below 103.38 ish might say no, or modest at best. Meanwhile, GJ moves down with only fib related support. In this case, fibs 127.68 compared with 124.8

Dragon Riders GBP/JPY

Curved/circular TLs do not offer direction. They provide fairly accurate support and resistance levels, along with key pivots. Having failed to break 126.2 thus far, GJ remains potentially bullish for attempt to break 127.6 Waiting for UJ to show ...

Dragon Riders GBP/JPY

Well, looking at the entire mess since the Brexit fall, most people were of the opinion that price was in a 5 wave triangle. The overall complexity and, indeed, internal structure never supported that view. The 131.5/132 area was always a complete ...

Dragon Riders GBP/JPY