Good luck guys.....my long TP is 146.00 then drop to 143.00.

Dragon Riders GBP/JPY

I would always compare them with crabs. Notice that the wet markets put crabs in shallow trays filled with water with no worries at all. When one of these crabs try to climb out, one of them would always grab them so that they won't get away. Same ...

The only thread you will ever need: FX Exposed!

I think I'm going to short this between 149.40-149.60 targeting 145.xx. The EW count on this is screwed up on the lower TFs. If you ask me, this recent move up from 142.75 looks like a wave C on the daily with a finish at 152.57.

Dragon Riders GBP/JPY

Hi FF, what does it mean again if you have multiple yellow horizontal lines on your 4hr charts? Thanks.

The only thread you will ever need: FX Exposed!

Ok. There's no right or wrong here. I'm happy to hear other points of view. In the end, it's about making money for all of us. MSniper and I have been exchanging ideas....some are right, some are wrong. As long as we all turn in a profit and learn ...

Dragon Riders GBP/JPY

With all due respect, what is happening in the market and why in your opinion?

Dragon Riders GBP/JPY

Let's not forget that this is the 3rd week of the month with options expiring tomorrow. It should be a volatile end of week. Let's see if the theory/analyses works here....

Dragon Riders GBP/JPY

I was stopped at 145.7 which was the end of wave 1 (EW states that end of wave 1 SHOULD NOT overlap end of wave 4). Therefore, wave 5 was the double top at 149.6x (4hr/daily chart). I believe that this corrective ABC wave would cause this pair to ...

Dragon Riders GBP/JPY

My view.....we'll see.

Dragon Riders GBP/JPY

I agree. It has to print 150.00 or more first before falling.

Dragon Riders GBP/JPY

It didn't reach my levels but after this correction on the 1hr (either ending at 146.87 or 146.68 wich are 38.2 and 50.0 fibs respectively), this should now go up and start wave 3).

Dragon Riders GBP/JPY

Just be careful since this is completely overbought on the 1hr and lower TF signaling an intraday short bias. I'm going short at 147.65 and 147.82 but my overall trend target is still at 151.53 or so....

Dragon Riders GBP/JPY

Otherwise known as a bear trap.... Anyway, 147.65 - 147.85 is in the cards to go through....

Dragon Riders GBP/JPY

I think Alorente is following the yellow pattern which is also possible but will go all the way to 136.xx if valid (unless the big trend changes at 143.75) The pink pattern is what we're looking at......15min before the BoE bullshitting begins to ...

Dragon Riders GBP/JPY

We're looking at it from an EW point of view so it could go down to your level right now/next week or not. I think the wave 5 finish will be at 150.78 - 151.56 before it goes down to the 143.xx level. This will be answered in the next 3 hours. Let's ...

Dragon Riders GBP/JPY

Cross fingers that 145.7 doesn't get taken out....good luck to both of us.

Dragon Riders GBP/JPY

This level actually represents a weak support line in the past (more like 147.68) so I don't think it'll have a hard time breaking through this resistance. The question is when and how. If I look in the daily charts, this pair always tend to reverse ...

Dragon Riders GBP/JPY

Hopefully, we should reach the 147.5x level before BoE starts opening its yap and messes things around.....

Dragon Riders GBP/JPY

Agreed. I'm also watching the 147.52 level to reverse until 146.19 or 145.90 then up. Always keep an eye on the daily charts since it's very easy to get lost on the lower time frames.

Dragon Riders GBP/JPY

We'll see.... I will cash out of my 146.21 entry and try to get it at a lower price. I think this will go back to 146.0 or less but I'm keeping an eye on that level you mentioned. If this level holds, the next hurdle will be the 200EMA (1hr) between ...

Dragon Riders GBP/JPY