Good point, no shorts or longs or scalps for me! No trading for now (positions are in, stops are set and profit locked in). It's a bank holiday here so I need to spend some time with the family! Z

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

We are at the bottom of a support trendline. This is not a good place to short. In fact, it's a better place to long with stops just below it. The time to short is when this line breaks. What you should notice is a fairly large fall through it and ...

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

Here is the rising wedge I was talking about earlier. I took some profit when price hit the bottom line (check purple circle). Now a rising wedge is a bearish pattern and price should fall significantly when that bottom line is broken. I use it as a ...

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

We have just hit the bottom line of a rising wedge (on the 4h). I'm taking some profit for my short (still holding others and will re-enter higher). If it breaks here, there should be a significant fall. This is the last line of defence for the ...

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

Make or break time for me. It is at the level where price will reverse or break (and I will reverse). Z

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

And the DOW

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

So bears have good ears? Seriously, where did you hear that? It's not the amount that's interesting but the time. I believe there is a Gann Sq9 reversal on 6th Sept. Any Gann followers know anything about 21st Sept? I suppose I'll have to check if ...

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

Guppy price seems to be stuck 234.46 for the last 38 mins (since my bro-ker opened). No movement - whereas cable has moved somewhat. Seems a bit strange?

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

Just think of all the interest you have earned over the weekend!

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

Just a quick update. I'm currently short and if this thing does turn around, my target is around (possibly just below) 230 for just over 400 pips profit. I will take a long around that point (230 and adding as we go lower) with a target around ...

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

Thanks for the feedback my fellow ex-Melburian. I hope this post is not too overwhelming. Firstly, for the sake of others here, the butterfly, gartley, bat etc... are call harmonic patterns and they rely entirely on Fibo levels. Look up Harmonic ...

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

OK, time for bed here. Now I hear what you are saying, but look at my Guppy1.jpg chart again. Volume is quite low on the rise so the trend is actually not as strong as you think. We shall see next week.

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

Karmo, Karmo. Now you've made me do some work my friend! I was with you (long) until the end of session. I posted my chart about 10 hours ago. Now I am short because we have a butterfly formation. Charts and info attached and something to digest ...

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

Final post for the week. They say don't marry a trade. So current high on Guppy is 234.58. My bearish butterfly pattern is valid up to 235.10 so I'll stay married to around that point. Good weekend all. Z

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

I see a bearish butterfly with the reversal right here.

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

You are allowed more than 1 account.

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

Currently 234.21. I've still got another hour to trade Guppy with my broker. DOW has another 10 mins. At least I get paid interest (LIBOR - 3%) on my DOW short over the weekend. Will come to about 6 pips

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

Yes. We've just hit the high. Shouldn't go any further than 234.50

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

OK, here is my chart again. Posted about 7 hours ago. Played out nicely so far.

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

Well, I'm the top picker, I admit it. But these bottom pickers have smelly fingers! Phew... Guppy shouldn't go higher that 234.50

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