Dragon Riders GBP/JPY

time move down

Some nice moves today. November has been a great month .... expecting a few dips on the way to 149.. I'm happy made some nice pips this month.

My buddy disecting the Cable.....

https://3.bp.blogspot.com/-IWjZbab7z...s400/ZBDHF.jpg

BIAS: Slightly cautious - feel we are close to a temporary low



Resistance: 1.24241.24411.2460-651.2480
Support: 1.23831.23691.2340-451.2301-10

MAIN ANALYSIS: Yesterday's high was a disappointment - just a bit lower than I had been expecting. However, overall a reversal lower was the underlying expectation. I'm just a little puzzled because the 1.2383 low should have been an impulsive projection but it wasn't really particularly accurate. The 1.2424 high was also pretty deep for this correction. I am therefore somewhat mixed but suggest watching for bullish reversal indications. A break above 1.2425 would confirm the 1.2383 low and if so, then we should see a pullback higher. The only problem with this is the unknown depth of any correction higher. Thus, take care and observe for bearish reversal indications.

COUNTER ANALYSIS: If this continues lower there is a target at 1.2369 that should spark a pullback to 1.2385-00 but then see a 3-wave decline to an estimated 1.2310-1.2345 area. If this occurs watch for bullish reversal indications

Good trading
Ian Copsey

[Aww....Ya nailed that.....

quote=zefx;9280818]time move down [/quote]

I reckon that right now at 140.03, UJ, GU and GJ are ll on the line. 20-30 pips either way says a lot.

WRT to GJ, it MAY be near the top of a diamond formation. But it would take a fade below 138.8 to quantify that notion.

Otherwise, above (best guess) 141 it may be a quick run back towards 15x

Yen is officially dead

What makes you think so? The yen is officially dead!!

how high do you guys think this will go?

wonder if mm big brother is setting a snare or foreshadowing things to come?

I think it is possible to go as high as 154 (equilibrium level before brexit), with small corrections of course, as long as demand outpaces offer But we only can speculate...It could go down anytime as well.

I would keep an eye on the cable now. A quick ~200 pips or more upward move may happen IMO.

My weekly chart is making a nice move up. Short term target is 142.90, just past the major psychological area of 142.50. I think if we could close above 143.23 this week we should have 149... sometime next week... but don't be surprised if we get a run down to 137.50 ... ticklish spot we are at...lol

Oh man....playin ...." When the Levee Breaks " by Zeparella.....4 chicks

coza da NZDUSD is bustin through now....like as if the U S Dollar is a sell finally in Asia.....

139.40 is the true trend line in the sand 15M buy orders at 138.88

Below 138.8 confirms not necessarily a reversal but at least a potential diamond formation. Then, it's 50/50.

Whilst i was hopeful of 141, I did state here that it's only up over 142. So far I'm good by only 30 pips

#GBPJPY weekly chart indicates to expect another down-leg move in coming days/week. Hidden bearish divergence exists. Elliot wave direction to the downside.

Hi guys, I have searched for an explanation how FX-Ray created his excellent levels/figures (Post 2) - and found none (maybe except some hints in his first posts here, but only general stuff).

Maybe you know where can I find more elaborate descriptions? I would like to study them.

Thanks

Edit: Ok, more or less I think I know what it is and maybe can re-creste this stuff (although I would like to read maybe more precise explanation anyway) and now maybe soeone know how Ray used this for trading?

BTW brillant approach (If I understand it properly of course, levels of pure gold )

[hey, somewhere around page 40 he linked the file....a couple of them....

I'll hve a look....get back to ya....

quote=Fred-IV;9288861]Hi guys, I have searched for an explanation how FX-Ray created his excellent levels/figures (Post 2) - and found none (maybe except some hints in his first posts here, but only general stuff). Maybe you know where can I find more elaborate descriptions? I would like to study them. Thanks Edit: Ok, more or less I think I know what it is and maybe can re-creste this stuff (although I would like to read maybe more precise explanation anyway) and now maybe soeone know how Ray used this for trading? BTW brillant approach (If I understand it properly of course, levels of pure gold )[/quote]

now this old boy says 143.50 then a small down due to that 200 ema


then 145.........

http://invst.ly/2u78o

She dip, I dip, WE DIP! Hopefully we can see 141.70 today it's just took a nice bounce off daily fib 50.0% on the daily chart. I would like to catch 150pip today, that would be so nice Good luck everyone