Dragon Riders GBP/JPY - Page 22
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Thread: Dragon Riders GBP/JPY

  1. #211
    Head and soulders forming, prepared for shorts in 149.6

  2. #212

  3. #213
    Quote Originally Posted by ;
    Head and shoulders?
    On my telephone so very lousy chart but potential shorts here imo

  4. #214
    I am not sure about the shorts, I think it will rally at least to 149.70 first.

  5. #215
    Quote Originally Posted by ;
    Now has the capability to turn into an inverted head and shoulders. Would want to reclaim at 149.8 ish to validate the procedure is underway.
    Possible inverted and cancel HS as seen on 4hr/daily. Top TL in 150.2 roughly. Upon clearing 150.3, Potential retest into place in 150.5 ~150.7/8. Strong split above 150.9 may be handy.

    Height circa 530 pips.

    Potential targets (should it remain intact and is, in fact, an inverse hs) are (1) height x 0.618 above 150.2 = 153.2/3 (2) height plus 530 (height) above 150.2 = 155.3 (3) In expansion, height X 1.618 above 150.2 = 158.5 ish


    Either way, it loses the chance to be a small 4th wave correction upon passing 151.3, even though 151.6 has considerable resistance right now.

  6. #216
    I was right, it rallied to 150.50 before pulling back, it was too early for shorts. I do have a brief now, TP is currently at 149.00.

  7. #217

  8. #218
    Quote Originally Posted by ;
    searching to 150.150
    In my view it may rally quite a little higher than this level.

  9. #219

  10. #220
    Quote Originally Posted by ;
    quote In my view it may rally quite a little higher than that level.
    Yes possibly to 150.500 prior to any Indiion of coming down

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