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    • Mpt replied Apr 28, 2016

      Launch point to return was 76.4%. That's a wave 2, so should the bottom hold, then recovery over the central 160.8 pivot, then 162.3 would get it well and truly back up. As a wave 3. A new low and it's back to 156, 153, 145 and maybe new lows

      Dragon Riders GBP/JPY
    • Mpt replied Apr 21, 2016

      That's for you to look at, as there many perturbations. Maybe look at the diamond idea on lower TFs. As I said some hours ago, under 156 is dubious, under about 155 it's dead in the water. But everything is bouncing right now, so it could possibly ...

      Dragon Riders GBP/JPY
    • Mpt replied Apr 21, 2016

      It was along time ago, but don't forget the "gap" Not the horizontal component, but where it fell from, where it may have got up again .... and where that potential rising line may be retested. Also, don't overlook the possible significance of a ...

      Dragon Riders GBP/JPY
    • Mpt replied Apr 21, 2016

      No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know ...

      Dragon Riders GBP/JPY
    • Mpt replied Apr 21, 2016

      Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes. image

      Dragon Riders GBP/JPY
    • Mpt replied Apr 21, 2016

      And that's why I said "thus far". Failure to break up here, or a loss of 156, in any case about 155 would take it back to the bottom for probably major new lows. As such that would keep Mr Yen happy.

      Dragon Riders GBP/JPY
    • Mpt replied Apr 19, 2016

      When a D wave completes (and takes out all the resistance), the next E wave finds very little res in its path. E wave target unknown, but over 196 BTW, this is only an observation on my part. When you do "trade calls" a lot of folks can get burnt. I ...

      Dragon Riders GBP/JPY
    • Mpt replied Apr 7, 2016

      Apart from the fact that 152 was a launch place in Sept 2013, I find it slightly interesting that Nov 2012 it broke out of its bullish long term triangle and retested at 125.7. 195 ~125.7 has its 61.8 retracement at 152 At least good for a ...

      Dragon Riders GBP/JPY