Based on the pattern (head and shoulders), there is a potential of about 250 pips from the neck line at 231.86 (back below the 61.8 level). But there is just too little volume at the moment so I'll be back around news time. That should shake the ...

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

Cool, just went short on the throwback ( price returned to the line ) in at 81 and stop will be about 30 pips up so small risk. This is what I was talking about earlier.

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

Yes, it's at the bottom of the line. But whichever line it does break expect it to come back to it or nearby. That is the time to enter into the direction of the break. Stop will be within the line so small risk for potentially good profit.

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

Good morning lilmoe. You might as well just hand your money over to me if you don't mind losing! I'll make sure it goes to good use. It's currently consolidating so we just need a be a little patient. It will reveal it's direction soon enough.

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

I have a down sloping right angle triangle on my chart. Probability favours a down movement of about 250 pips but no entry until a clear sign of a break-out. Also a head and shoulders formation on the 30 min. Two bearish signs. Good morning.

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

Anyway, bed time here. But before I go, a quick lesson on trendlines for Aussie. Even a seemingly insignificant line on the 1 min guppy chart could have an impact. Good sign to close positions so I will see you "longs" again at 233.33 (nice number) ...

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

When he hears the latex slap onto my wrists, he'll know!

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

I get that from Alpari although they are for normal trading hours. My live broker (CMC markets) provide 24 hour charts so I get after market trading.

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

When I learn your strategy, perhaps I had a look today and got my VT looking like yours. Now I need to study it in a bit more detail. Time is precious at the moment but I'm always looking for new (effective) weapons. It's really good to share ...

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

Aus, I can tell you now that your third target will not be reached, until a fairly large retrace. In fact, it will probably retest the low first. Breaking through 238.80 is going to take some work as all kinds of things live there. Remember this ...

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

lilmoe These are the DOW battle lines for the bulls and bears. Whichever breaks first wins. Remember to reverse on the throwback to the line. One daily chart and one weekly. Z

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

I've got three of them, all boys (1,3,7), but the next two are easy compared to the first.

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

You crack me up Aus.... It's nearly time for bed here in the UK and you're still up! My wife gives me a hard time and I sleep during decent hours! Great thread though, a bit addictive.

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

There's an important trendline holding it down. On the daily, draw a line from the peak to the next lower pivot. Currently the line is sitting on 13,333. Time for the gym and then bed. Later

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

Yes, excellent analysis. It is definately going up (I am long) but at the moment I'm trying to determine the reversal point for a possible low retest! There is a lot going on up there so it's difficult to pin-point!

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

Before and after charts. Will this play out? The big one will be the short to retest the low! Where will it be? I know it wont be much higher than 238.80 but will it be lower?

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

There's stronger resistance at 13,333 (nice number yeah)? If that breaks, watch for the bulls!

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

Agreed, sometimes the best trade is not to trade!

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

Just a quick word to let people know not to follow my analysis unless you have some good Money Management (MM) skills (or it agrees with your own analysis). If I write something and it reaches target then great but if not, then some people may get ...

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

Aus and Karmo I appreciate this being your thread and that you guys make the calls. I hope you don't mind me posting my thoughts here also. I will only do so in support of one or both of your calls and analysis. If I have something opposing then I ...

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