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Dragon Riders GBP/JPY

It did drop to 146.00 as I thought it would, and by the looks of things the depreciation will continue.
It overcame 146.00, I think it will continue depreciating to 145.30.
The double bottom on 1h chart & 15m charts have finally formed. Now, will we see up now?
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Quoting Tweetren
The double bottom on 1h chart & 15m charts have finally formed. Now, will we see up now?
Those are too short time frames for the signal to be long term and reliable.
It rebounded from 144.85 but I still have shorts open, I don't think the depreciation is over.
Brutal
Quoting dianajs
It rebounded from 144.85 but I still have shorts open, I don't think the depreciation is over.
Looks further fall coming as it has hurricaned down
It looks like it wants to fall and create a new low.
Quoting xternity
It looks like it wants to fall and create a new low.
News might just do that..
Looks like it is setting for a sell mode..selling now for a small risk with 30 pips s.l..fingers crossed
Should it be in correction it should bounce strongly from here (143x) or about 139 in the extreme. In a reversal it may bounce out of 135/136 ish before down again through 132/131. At this time the daily sustains at totally oversold, but suspect that by the time it's finished in a possible reversal all larger time frames will be likewise. Whether that's below 122 or 116 remains to be seen.
Weekly 100sma was hit yesterday - potentially very strong support, so could continue rallying from here.....
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Quoting Suj
{quote} Looks further fall coming as it has hurricaned down
I think the depreciation will continue but we'll have to wait out the correction first.
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I decided to open a long position today and make use of the correction, TP is at 146.00.
Still convinced it's a correction and not a reversal?
Double bottom an M30 at 143.20 and no touch of 143.00. Bears ran out of steam.
Quoting JeremyV
Still convinced it's a correction and not a reversal? Double bottom an M30 at 143.20 and no touch of 143.00. Bears ran out of steam.
Some corrections can be very deep, it may still start depreciating again at some point.
Quoting JeremyV
Still convinced it's a correction and not a reversal? Double bottom an M30 at 143.20 and no touch of 143.00. Bears ran out of steam.
At what point does it cease to be a correction in yr books? A standard diamond reversal would allow for as far up as 147.5/148 before 139.
Well...After the G7 meeting conclusion ...THERE WILL BE A TRADE WAR WITH THE ISOLATION OF THE U.S AND VERY STRONG REFUSAL OF BULLYING FRIM ALL THE OTHER MEMBERS , NOT TO FORGET THE VERY SHARP TONE OF THE SPEECH ...THIS IS A TRADE WAR.
I THINK THE YEN WILL SOAAAAAAAR NEXT WEEK AND EVEN MAY OPEN WITH A BIG GAP DOWN ....BACK TO 140 GUYS
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