Thread: Dragon Riders GBP/JPY

Originally Posted by ;

Wow, this just can't go straight down. Price had 220 pips down from last retracement on 1hr chart. This ought to at least retrace back up to 151.05 then potential proceed to either direction.

150.00 - 149.80 is a strong support, therefore that I also believe there'll be a retracement, but I am not sure it'll rally that high.

Divergence in RSI and Stoch on the 4H with both moving Upward from OS. Plus price is shing back into Keltner station. It could possibly be ready for retrace back to .382 fib @ 151.50

This setup normally produces good result when combined with price action (inside/outside pubs( pin bars) or divergence in RSI and Stoch.

Despite my doubts GBP/JPY did rally to 151.05 and broke out over it. I think next target may be at 151.80.

80 pips in two minutes. ?

Originally Posted by ;

Divergence, slightly lower before going long again, could see 153 back again. image

Its shooting up, manage to get 60 pips, although should I hold on to it can makes 120 pips in complete doh . . Wild wild dragon

Trying to retest 152.650

Originally Posted by ;

trying to retest 152.650

Very accurate appraisal. I believe today, that it may pull back from that amount.

Originally Posted by ;

quote GJ cup and handle breakout on the hourly? picture

Nice grab. At first I thought we were going to see a retracement back to sub 151.60, but I see a HS pattern on the four hour. If it holds true, we can observe a measured jog to 155.00

It pulled back from 153.00 and it is now back over the range between 152.00 that an 152.80. I believe it is unclear for the moment whether there will be an additional breakout to the upside.