231.50 area is the resistance level now. Price bounced off and that was a good place to bank more pips (220 in my case). It should hold for a while so I'll just wait and see what happens. I don't expect to see much action until FOMC.

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

Thanks Wolf, I can see some of your strategy is similar to mine so I appreciate the words.

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

Actually, I was calling for a potential target of 234 but I will take what the market gives.

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

I'm taking off another one here for 220 pips. I'll re-enter after a retrace. 231.50 area has reasonable resistance so it's not going to break straight through it. Check my previous chart (last post, page 1900), you will see a resistance line there.

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

Makes complete sense to me. Why do you need news? Broke out of the wedge (orange shaded area), came back to restest (throwback) and continued north. It happens quite frequently. I can assure you I didn't trade this on any news. All in the chart.

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

Hasn't Aus's 4h, 1h system generated a buy signal? Do you wait for the retrace now?

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

I'm taking one off at just below 230 and banking 75 pips... then moving stop to break even on other entries for a potential target of 234.

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

To tell you the truth, I'm still debating on whether to keep it (as I didn't ask for it) I don't mind the privilege to post in the trading room but I'd rather have the 1kt symbol removed from my name. BTW, have you made 1000 trades yet?

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

This site has a good calendar. Look at the Calendar tab right next to the Forums tab. Here is a link for the blind. url

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

There's a good chance we are safe now. It dipped its head to just below 229.00 (depending on platform) as expected.

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

haha, OK, you got stopped and I added. Scaling in with small entries. Stop is 228.62.

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

I'll be adding around there.

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

Actually, looks like the 28th of September could be the reserval date. It's the last trading day of the month and falls on a Friday. Now, I'm only experimenting with this so don't put too much weight on it. Look at the dow cycle. Price seems to ...

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

I did some cycle analysis on the DOW and I have a projection point on the EUR, both scheduled to reverse at the end of this month (around the 27th). I can't seem to get anything on guppy but I suspect the reversal could happen around then also (i.e. ...

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

It doesn't necessarily have to hit 234 but that's the potential. I'd still be happy with 100 pips if it only gets to 230.35.

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

I'd like to see price dip its head to just below 229.00 so I can add some more. This long has potential to return to the 234 area.

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

Here is a chart. It should bounce off the orange shaded area and stop will be below that slightly increasing trendline. Risk is fairly low.

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

Anyway, we have broken out of the wedge to the upside and we are now returning for a retest. This is a good long entry-point. I now suspect the low to be in though FOMC later today could warp everything. Scaling into the long would seem appropriate ...

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

That wasn't GBP positive news. A higher inflation rate would be positive as it could indicate an interest rate rise.

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

We are coming to the lower part of the channel on the cable weekly. I don't think it is ready to break right now.

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