This has always been a big place. Once for a major drop in 2012, another time in 2012 for a significant rise. So says horizontal resistance. Circular resistance also says that this is very big and concurs with straight TLs below. Straight trend ...

Dragon Riders GBP/JPY

Yes, from a long time ago. June 24. But it reclaimed. Over 148.5, next may be around 153

Dragon Riders GBP/JPY

I happen to agree with you. IMHO, we are not seeing a correction. We are seeing a total re-positioning of the USD (and by default the USDJPY aka USD/USD) with the Pound to start shortly. Call it a C wave if you will. Thirty plus years of balderdash ...

Dragon Riders GBP/JPY

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Dragon Riders GBP/JPY

4hr gann holds at 144.2 thus far. Daily gann at 141.3, next real support may be 141.1 Horizontal support in the same place. Assuming break under 142.7. Break over 144.2 and hold has it up for around 146.5/6 For the que gann hilo, refer to the old ...

Dragon Riders GBP/JPY

Central pivot 144/144.2 Only failure to reclaim and a drop back to about 142 (maybe even 141.2), with another failure to get up again would be a reversal. So far it's acting as a continuation pattern

Dragon Riders GBP/JPY

TL, from 189.5, stopped price at 185. I expected it to stop price at 180.5, but it wen t to climb 1500 pips. At that time, the weekly showed all the normally expected setting for a deep retrace. Next met at 164. Eventually broken strongly at brexit ...

Dragon Riders GBP/JPY

In a descending/ascending wedge format, wave 4 MUST trade into the wave 1 area. Wave 1 low being 145.35. Accordingly, the wave 4 argument still has merit. Until it's proven totally wrong

Dragon Riders GBP/JPY

There is no WHY NOT. Frankly, any rejection from here would probably target into the previous consolidation. That being said, a H&S 210 pips x 1.618 target would have it into 139.6 But I'm sure it'll find a way to avoid anything like that

Dragon Riders GBP/JPY

Maybe a little exuberance. The 196 138.2 extension out of 175.x broke a couple of pips. Or maybe it just doesn't care too much. Just enough to pay enough homage before breaking up again.

Dragon Riders GBP/JPY

I'm not saying it impossible, just unlikely given recent performance.

Dragon Riders GBP/JPY

I did say I thought it unlikely. Over about 143.9 (4hr) it attempts to break up again

Dragon Riders GBP/JPY

Won't happen, but still technically qualifies as a 4th wave move in a downtrend until it breaks 145.33 Just as a side comment, 138.8 cf 122.7 (1.382 in extension) is 145 -broken by a few pips. Hence the fallback, which has thus far found support at ...

Dragon Riders GBP/JPY

Still within expected parameters. But still needs to lose 140

Dragon Riders GBP/JPY

A wave to 138.4. B wave to 141.4 (88%). C wave in possible reversal pattern now. If same length as A, then a slightly declining flag to about 138.2. If nominal 1.618 of A, then circa 136.2 Otherwise back to 132/131.5 Bearish view still has time to ...

Dragon Riders GBP/JPY

Below 138.8 confirms not necessarily a reversal but at least a potential diamond formation. Then, it's 50/50. Whilst i was hopeful of 141, I did state here that it's only up over 142. So far I'm good by only 30 pips

Dragon Riders GBP/JPY

I reckon that right now at 140.03, UJ, GU and GJ are ll on the line. 20-30 pips either way says a lot. WRT to GJ, it MAY be near the top of a diamond formation. But it would take a fade below 138.8 to quantify that notion. Otherwise, above (best ...

Dragon Riders GBP/JPY

FWIW, this pair fell out of support around Nov 2 for about a day, before getting back up. It fell again on 8/9 Nov (depending on where you live). It broke support by a small number of pips on Friday. It opened today outside. Whilst the central pivot ...

Dragon Riders GBP/JPY

137 38.2 retrace brexit high to 122.7 137.2/3 ish top of possible descending wedge? Kind of doubt it though

Dragon Riders GBP/JPY

In line with the apparent small channels of lessening angle here, I would not be surprised to see a rounding top for some time (read .. many days) that may break up from a little lower down, or may yet follow the possible historical analogy and ...

Dragon Riders GBP/JPY