When you asked me, it was around 2 am here, so I wasn't overly interested in drawing a picture. I just wanted at that time to suggest politely - to those calling for a new bull run- that maybe it wasn't so bullish. Then I went to bed.

Dragon Riders GBP/JPY

As promised. You had it right though. There were 5 waves and when completed, price fell to the mid point of a larger rising wedge, rose into resistance and then ....I'm still not totally convinced that the fun and games are over (read larger ...

Dragon Riders GBP/JPY

It's early in the morning here. I'll reply tomorrow.

Dragon Riders GBP/JPY

A slow fade out of here would point to the completion of what so far has been a 5 wave correction

Dragon Riders GBP/JPY

178.5/7 is a break or fail place

Dragon Riders GBP/JPY

Over about 178.6 it's up

Dragon Riders GBP/JPY

No it's real. Most pairs are way up or way down. Probably will change by next official opening.

USD/JPY Discussion

Although no major fade means a nasty correction that drags out for several more days and gets more horrible.

Dragon Riders GBP/JPY

Completed rising wedge 2nd retest underside. Although can still break in A fade from here should restart the down trend.

Dragon Riders GBP/JPY

It takes time. The last time GJ successfully broke through this particular technical resistance was 150 weeks ago at 124.8. Back then it took over a week. Curiously, when it finally broke back then, it collapsed 600 pips and that was the 2nd last ...

Dragon Riders GBP/JPY

We'll all go together and I promise l'll hold your hand.

Dragon Riders GBP/JPY

And if you take every 8th movement from the tick chart over the last 64 hours, encode the sequence to tones and play it backwards, you hear Abe and Kuroda singing "190 by April fools day" to the backing track of Somewhere over the Rainbow. When ...

Dragon Riders GBP/JPY

Never ever ever use or trust divergence in a correction. Did I say never? Momentum loss in a correction masks as divergence and vice versa and can lead to false analysis. Did I say never? Sometimes it's good .. other times not so. Just a bit of ...

Dragon Riders GBP/JPY

NFP is still on Good Friday. The lesser ADP employment change is up in a few hours.

Dragon Riders GBP/JPY

Well, in the absence of current bearishness from Cable, UJ is doing a sterling job - pun intended. UJ at 119 threatens and under 118.3 confirms reversal, probably and eventually back into 112/110 or so.

Dragon Riders GBP/JPY

After 20 hours - break down begins

Dragon Riders GBP/JPY

It is easy to confuse price that is rounding off in a slow fade with a 'wedge' that some take as inherently bullish. The problem with rounding down is that it can sometimes work like a bullish wedge and break up - or it can work like a bearish wedge ...

Cable Update (GBPUSD)

In reply to both - with the monthly rolling over in a few hours - there is no absolute surety that it gets down at all - in the short/medium term. Right now, I think UJ really has to take it down in the next few hours with a fade under about 119.2/3

Dragon Riders GBP/JPY

This is an attempt at a most significant time in the life of this pair - a moment that may not be appreciated. It is trying to establish a break and hold under the weekly 50 simple moving average. The first time it met it, it bounced 1100 pips. The ...

Dragon Riders GBP/JPY

Just like any state in Australia, or most Commonwealth countries, my prediction is a Labour win or a Conservative win - with minor coalition. I haven't kept across the UK polling so far.

Dragon Riders GBP/JPY