Thread: Dragon Riders GBP/JPY

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).

Originally Posted by ;

quote You mean, after the depreciation finishes?

152.900 already occurred. I am looking at 152.150 to get a possible retest down to 151.500