Balls of steel, man. I'm waiting to see which direction this takes off......

Dragon Riders GBP/JPY

You know what's worrying about this is that the 55 and 200 EMAs on 15m, 30m, and 1hr are diverging. Market indecision maybe? On the 1hr, it's starting to look like a bear flag forming until we see a significant break up.....

Dragon Riders GBP/JPY

Good deal. The range for today is shifting quite often. Next high is probably going to be 173.35-173.40. We still have the bottom TL intact....

Dragon Riders GBP/JPY

Be careful on this old lady.....the hourlies show a forming triple top which might break or rejected, while the daily shows an expanding wedge.

Dragon Riders GBP/JPY

Anyway, closed the shorts at 172.38 (I didn't set a TP at 172.10!!!) and sold now at 172.91. We gotta watch this 55ema support on the hourlies currently at 172.45. If it closes below that, then it might test the 172.35 trendline again. If it ...

Dragon Riders GBP/JPY

Or this on the hourly.... image It can try to hit 172.05 then up to 177.35 using the Fib expansion lines. In both cases, it's pointing to this 177.20-177.35 area. The question is whether it will do it at wave 4 end or wave b end?

Dragon Riders GBP/JPY

This is what I see so far on the weekly.....

Dragon Riders GBP/JPY

You might be right that 175 was the start of wave 5 (A). I think I got my count wrong thinking that we are already in wave A corrective. If this is indeed the start of wave 5, then probably it will drop to the 160-156 level. I'll post a chart after ...

Dragon Riders GBP/JPY

Hey GJ, I hope that date shows up all dolled up with with a six-pack! If this move does signal wave B, we're looking at what......169.50 for a 50% retracement? Or 170.77? Gotta watch these two levels......

Dragon Riders GBP/JPY

Actually, I have a short limit order on 175.15 which will hit the upper range line. This move looks to me like wave A or wave 1 but I'm not sure yet until another week.

Dragon Riders GBP/JPY

Preparing to short at 174.70 when it gets there. If that fails, the next level is at 175.84.

Dragon Riders GBP/JPY

I dunno.....I see 160.20 in the works. Last night might only be a correction.

Dragon Riders GBP/JPY

Where did you get the levels from (every 400 pip level from 200)?

Dragon Riders GBP/JPY

Trying to form an inverted H/S on M5 (might pick up steam at 164.64ish)......Bullish reversal on H1 and H4......might form a reverse doji on daily chart. We'll see. This pair just blew past support at 166.41. To me, this means that the 156 level or ...

Dragon Riders GBP/JPY

Could be a good level. I'm looking to sell at 168.90-98 which is the 161.8 Fib from yesterdays high-low which should provide a 50-100 pip retracement. I still have 170 in the card by week-end or next week. We'll see and cross fingers.

Dragon Riders GBP/JPY

Normally at 50% but there is a descending trendline from 189.69 to 184.92 which smacks the 38.2% fib level (look up the weekly chart). I expect this to probably hit 175.00 (one of Ray's ol' DPs) 177.55 then resume down to 156 or even 147s (61.8% ...

Dragon Riders GBP/JPY

Targeting to buy at 166.16 - 166.30 to start wave 4.

Dragon Riders GBP/JPY

Hey G/J....just laying back and observing what's been going on with this pair. I'm currently long from 169.55 but who know what'll happen today after Carney's yappin'. In fact, the 50% retraction on the weekly is 157.33 but I put 156 there since ...

Dragon Riders GBP/JPY