The daily 'cloud". Top 139.2/3. Bottom today 134.3. A place that makes things hard to predict. You'll usually get a rejection of sorts at the top. Because the cloud tends to "mask" outside res/support, any solid move into it (possibly under 138.3) ...

Dragon Riders GBP/JPY

139.2 top of daily ichimoku cloud. Some poss support 139.5/6 before then

Dragon Riders GBP/JPY

I didn't post this, nor comment at the time as I really was unsure. One of the very very few wave trades that work out are for end of wave 4 when three parameters are met. Wave 4 moves into wave 5 which is the last and final wave. Wave 5 is usually ...

Dragon Riders GBP/JPY

140.1 is reasonably good support - but maybe for a minor correction to address o/s. Somewhat depends on the daily candles here. A standard correction would target 138.5/8. Maybe only 139.1. (As per last time). 139.1 ish is the top of the daily ...

Dragon Riders GBP/JPY

GJ 143.9. ideally, UJ to recover over 116.9. Cable to hold circa 1.235. GJ to reestablish over 144 and break 144.5 for 145 + That's the ideal world anyway. And fail around 146.4 for a repeat of of 2013 history

Dragon Riders GBP/JPY

That's first stage process of reversal, with next up failing to pass 147 Conversely, move to about 145.8/146 (prefer 147) falls back to support at/above the centre pivot 145, before up in continuation. At this time, it still runs uphill in a near ...

Dragon Riders GBP/JPY

142.8. Still inside the topside consol area (just). Presently measuring fibs 148.4 compared with earlier 138.7 base. 142.4 = 61.8 plus horiz resistance. Loss 142.3 ish opens deeper fall.

Dragon Riders GBP/JPY

Loss 144.0 opens 143.3 for a total move of 520 pips in a bullish correction. Below 142.4 suggests a rather deep retreat. Holding over 144 needs 145.2 to confirm uptrend. Anyway, merry Christmas everyone

Dragon Riders GBP/JPY

Cable: moderately complex array of formations. First one dropped out of 1.23.6 three days ago. Second one held so far at 1.231. Long story short, cable back over 1.239 has a window to move back up to 1.253. But, either today or tomorrow/next week, ...

Dragon Riders GBP/JPY

I reckon it fell into fairly good support - for the moment But, it needs to reclaim 145.8 then over 146.4 Who knows what impact, if any, the BOJ thing has today. However, Cable should by now be at 123, but its been in a rounding bottom for 33 days ...

Dragon Riders GBP/JPY

Thinking that this has been one big rising correction since 138.6 revisited from 141/141.5 . That suggests a correction height of exactly 1000 pips, further suggesting (using Fibonacci multipliers) that target for any decent move up over 148.5/150 ...

Dragon Riders GBP/JPY

Although all logic is out the door if it starts to run a head and shoulders type regime.

Dragon Riders GBP/JPY

Two or three points. I assumed the 3 4hr breaks to 146.7 were a false break above resistance. Secondly, there is still a central TL (whatever you want to call it) running up the entire move, wherein price trades above or below it. It was hit at ...

Dragon Riders GBP/JPY

Pound came within about 3 pip of suggesting bearish. Hopefully it now recovers.

Dragon Riders GBP/JPY

Normally, yes. Sometimes, though, it depends on the correlation with the other pair and, if, say, they're both only moving because of a USD change, there can be times where the Yen may move, but the crosses stay put.

Dragon Riders GBP/JPY

Thank you for your comment. IMHO, any recovery may be slow, very slow. BUT, I still reckon it returns over some 4 ish years to at least its historical norms. Eventually 2 becomes the base and the last 40 yrs fades off as a bad memory.

Cable Update (GBPUSD)

Whilst I sounded a bit terse, I mean that if you watch the daily (or weekly candle) you will often get a better overview of what's really happening. Lower time frame charts not only provide clutter, but can very often give a completely wrong ...

Dragon Riders GBP/JPY

Maybe you should dump the 5 min chart totally and just watch the daily. Then you might have a tiny chance of sucess

Dragon Riders GBP/JPY

Early morning report? Maybe one day you'll work out that the planet is round

Cable Update (GBPUSD)

And what will you say when it soon enough gets back over 1.34? Unlike anyone else, I publicly opined about GU levels BEFORE the drop. That post is here ... url Everything was within a few tens of pips , except that 1.22 dropped out, but recovered ...

Cable Update (GBPUSD)