Of course, but GU itself is stuck at the extreme low of the down move, which is a good sign as far as short selling is concerned. Alright off to bed now. Cheers.

Dragon Riders GBP/JPY

GBP/JPY is about to resume its downtrend...

Dragon Riders GBP/JPY

From 6/19 midnight to 6/19 11:59 PM, New York time?

Dragon Riders GBP/JPY

Market is now testing yesterday's low (141.60).

Dragon Riders GBP/JPY

I suggest you forget about being long now, we have an entirely new situation here.

Dragon Riders GBP/JPY

Yeah no problem, Plan B is in effect now. The drop is going to be huge. Oh well, so be it.

Dragon Riders GBP/JPY

Closing and reversing.

Dragon Riders GBP/JPY

Some other time, right now I am exhausted (it's almost 3:30 AM this side of the Pound).

Dragon Riders GBP/JPY

Waiting for the pullback to 142.35 to buy some more.

Dragon Riders GBP/JPY

Now all we need is Carney's speech and we will make out like bandits! Or not.

Dragon Riders GBP/JPY

Keep going up boy!

Dragon Riders GBP/JPY

These smaller time frames can still give some very interesting clues to the astute trader who can decode their subtle message...

Dragon Riders GBP/JPY

The market markets just printed a phony shooting star to discourage the buyers (see 5-min chart)! Yeah sure, let's all abandon our long positions and go short

Dragon Riders GBP/JPY

No way.

Dragon Riders GBP/JPY

I believe a pullback down to 142.00 is possible (although not likely) but that's the maximum...

Dragon Riders GBP/JPY

GBP/JPY now at 142.10, this is the pullback I was talking about...

Dragon Riders GBP/JPY

Well on the 5-min it's more like a rectangle, see chart below There is no guarantee in trading, that would be too easy.

Dragon Riders GBP/JPY

Bank of England Governor Carney is going to trigger our miserable little stops (mine included) the minute he opens his mouth, I can feel it! If not get ready for a truckload of pips...

Dragon Riders GBP/JPY

Freely traded financial markets (Forex included) are fractal in nature, meaning the trends and the chart patterns you see on the monthly, weekly or daily charts also appear on the 4h, 1h, 15-min, 5-min and 1-min. The exact same technical analysis ...

Dragon Riders GBP/JPY

The high or the low of the day usually occurs between 2 AM and 4 AM (New York time), sometimes sooner if the trend is strong, so we might see some small pullback to the downside before take-off. PS: Hope I did not influence your trading decision in ...

Dragon Riders GBP/JPY