There is a bit of support at 231.5. Should provide enough pips for a good scalp at least.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Morning all... good to see my target of 234 hit although I closed a bit too early. Where to now? More ranging I suspect.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Might close my DOW short. I can trade it 24 hours and current aftermarket high is 13,738. Waiting to see if it will drop to my entry point.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Still in though if this high breaks then I'm out for a small loss. Waiting for market close - could see some profit taking.

Auslanco - GBP/JPY and GBP/USD (newstrade)

As far as I'm concerned that is the end of the spike. Short DOW from 13695... Euro and Cable have halted also.

Auslanco - GBP/JPY and GBP/USD (newstrade)

OK, just shorted the DOW..... 13,695 - Stop about 40 pips up

Auslanco - GBP/JPY and GBP/USD (newstrade)

I totally agree markam. I posted this link earlier but the site became overloaded so some may have missed it. It was posted a few months ago. Check the date. Here it is again - inflation will kill the market - the DOW shouldn't go higher than that. ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Line is currently sitting on 233.15. I would need to see the proper market action before considering a re-entry long. At the moment I'm thinking of shorting the DOW (if it gets closer to 13695 with stop just above 14000 so small risk). This could be ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I told you resistance was at 13695... Stops above that (ie, above 14000).

Auslanco - GBP/JPY and GBP/USD (newstrade)

Well done Nat. I saw your chart yesterday and it was a nice confirmation!

Auslanco - GBP/JPY and GBP/USD (newstrade)

This is the chart and resistance line. Will re-enter on the break upwards. BTW, you can check my previous posts with this chart. Those resistance lines have not changed and provide good take profit points.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Looks like this thing is running out of steam. May re-enter on a break-out of the resistance line. Chart below (mine)

Auslanco - GBP/JPY and GBP/USD (newstrade)

Closing my Guppy trade from earlier for just under 400 pips.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Wait for some direction. It is quite normal to chop up and down. Many traders' accounts get liquidated on days like today so be patient and careful.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Markam This was my DOW prediction a few months ago (back in June). Could still be a possibility. Check the date of the post. url

Auslanco - GBP/JPY and GBP/USD (newstrade)

Markam, I posted this chart earlier. You may find it interesting. I have mapped the cycles of the DOW and you can see the lines match up nicely with the reversal points (except the last one, which was 1 day out). Today we sit on a line also and the ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

13695 is key resistance for DOW.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Agreed though my gut is telling me this will shoot up, slap a few people across the face and then eventually hit my target of 238 (though perhaps not today). Key resistance is 235.50 region. Anyway, I've still got an entry from 229.10. It will be ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

The wedge formation once again proved its worth. Resistance is currently sitting at 231.50 and that will be a nice place to long should it break. I don't expect much to happen until FOMC though.

Daily GBP/JPY analysis

That's why I need to get my wife into trading. Women are multi-tasking right? She should be able to exit long and scalp short at the same time. I can't seem to do that (yet)

Auslanco - GBP/JPY and GBP/USD (newstrade)