Thread: Dragon Riders GBP/JPY

GOOD SELL SETTING. I need to give over 700 pips downwards.

Stress on the daily is providing in.

We are overbought with some bearishness arriving in. However to overcome some resistance barriers so this might be a retracement however if it is a ABC move I shall expect this move that is down to test 145.

In my humble opinion I see this taking a rally back above 154.

Originally Posted by ;

Stress on the daily is providing in. We're overbought with some bearishness coming in. Yet to overcome some resistance barriers yet, so this could be a retracement but if it's a ABC movement I shall anticipate this down move to check 145.

I see it as an ABC move

Originally Posted by ;

In my very humble opinion I see this taking a rally back over 154 ahead of the reversal of direction.

I agree. The 78. 6 of the move down is at 5412ish. We've 2013 July High at 5404ish.

Get over 153.6 and in any instance 153.8, subsequently 154.25, suspect a very bullish window is starting to 155.5/7 and maybe running right through 156.3

Am loath to long it yet, as a similar process happened in 2013. .... And in now

Originally Posted by ;

quote considering 152.900 place

You mean, following the depreciation finishes?

Originally Posted by ;

quote I find it as an ABC move

That might mean big downside incoming. Let us observe. Interesting to know this is depicted by others too

Imo I anticipate a substantial drawback, though I'm dissappointed it took longer than I believed it would, to begin. It hinges UK side news BOE can hold from a rate rise that was initially priced to GBP. If that happens we'll see a slum completing the currently forming Cup pattern (daily tf).