Good man. . . If we see resistance there then we know that the 3 wave correction is complete and we should look for a continuation of the down move in 5 waves. . . I'm looking for a rejection in that area and I'm looking for the move to come thru ...

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

Nope should reach 137.70/138.21/138.46 area based on what I'm seeing. A close above 138.50 will see 139.29 attacked in a big way. . . doubtful but possible. . .

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

Congrats to all that stayed the course on longs - still think 138.20/46 weekly and and mpp resistance should play out by thursday/friday. . .

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

Definitely agree on that. . .

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

Yep - I'm looking at the daily as well and do agree the ultimate trend is to the downside in fact I have a 5 wave target that could reach 127 by month end. . . However, I do think we will see at the very minimum a touch of 137/137.50/138.21 to play ...

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

on 1hr and 4hr chart looks to be building momentum for a thust upward. . Also, looks like a classic abc correction to the upside. . . But I do agree we could see it range between 136 and 135.20/135.50 before we get a direction either way. . . ...

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

Looks like a classic abc correction up after 5 waves down to 134.50 - I'm actually looking for 137.70-138.20 area then a sell-off by month end into 133.50-127 area but that's just what I see. . .

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

Something to keep in mind. . . We just tested the daily gann support and we bounced off last week low at 135.15 area so we may need more momentum to break thru that area. . . Just something to think about which I know you area!

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

Great discussion and I agree the only way I'm convinced that we are not headed extremely lower is if we break out of that channel on a weekly basis. . . Right now we are in a no trade zone and 136 will be the key to the upside for a test of the ...

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

Nice. . . Also have a look at the monthly with those same Bollinger Bands. . . Would keep an eye out on that as well. . . Month end is drawing near.

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

Agreed - down is definitely the pathway and weekly is pointing to a break of the low. . . But lets see if we gets some ranging before then - need something to fuel the fire. . . The weekly sure speaks for itself. . . Naked chart for u. . .

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

That area was also another test of daily gann support. . . If we bounce this time then H&S may play out so today's close will important to the downside or upside. . . I have a feeling we're going to see some dips but ranging for the next few days. . ...

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

I like your thought process. . . Could see 137.50'ish area by Wed/Thurs but remember there will be an announcement ar'd March 25th/26th regarding the whole Greece situation that could send the market in a tale spin. And the fact that we are ...

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

Nice chart looks like a H&S play and I don't even play these patterns. . . . . . Don't think we will see any significant down move to ar'd March 26th so ranging until then but could dip to as low as 134.50/133.80 area. . .

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

Can't we just all get along????? No hard feelings my friend we all good. . . We just have to remember that there are newbies lurking on this thread all the time searching and we owe it to them at least to give some better details of our thought ...

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

Great discussion - we now have views from both sides to discuss with constructive analysis. . . So lets start the discussion by asking ourselves why should it go up or why should it go down. . . Looking at monthly, weekly, and daily. . . I'll start ...

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

Those are the questions I asked and thank your for sharing the chart. . . The exact one I'm looking at! Seems unfinished business to the upside to me! So a bit more consolidation may be forthcoming! Cheers bro and have a great weekend!

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