Well right now I see a trip back to 150.30 area the bottom of the ascending channel which will be the deciding factor where we go from there. . . It appears the move up was a false break off that channel so far and has been rejected nicely at the ...

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

Honestly I'm thinkn much much ower. . . Me and a senior trader had a discussion early this a.m. regarding were we are in terms of EW potential. My view is we are in wave 5 and price points to 116 and his view is we are still in a corrective stage of ...

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

Looking at GU's monthly chart if it doesn't close above 1.56 by month end it has the potential to fall to as low as 1.40. . . So I would be very careful with longing GJ at this point. . . 139.30/40 should be formiable resistance and even on a ...

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

What's important today is where price closes. . . It will be important for next weeks play. The wpp is at 136.53 and a close above or below is important for next week and equally important as we draw near month end (mpp 138.50). Today we may see ...

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

Agreed - 136/136.50 will be key for 2morrows closing. . . 136.53 is wpp. . . close below and 135 and below is the target. A close above it and we target 138.50 then 140.65 spike to complete abc correction off 150.70/80. . . But just can't see higher ...

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

Stop that monkey business. .

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

be nice we were all getting along nicely. . .

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

Way I see it - we have already tested resistance back at the mpp 138.50 area now it's time to test the wpp to determine where they want to take price now there is a possibilty that it could dip below to that lower TL 135.80 area and even lower to ...

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

Zup Vvvvvvvvvvvvvvvvvvvv!

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

Okay - I hope you are correct. . . will add to my shorts on a daily close below it and test of the TL. . .

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

Well based on this chart we are making higher lows and higher highs. . . so the shorting opportunity was 139.40 and 138.50 we dipped to 137 and below this a.m. so a test of that area may be forthcoming or slightly above it. . . If the pattern is the ...

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

Looks to me from this chart we have 3 soldi support established so far. . . 132.80 134.00 135.22 and working on carving out support at 137 area with a possible test of the weekly pivot at 136.50. . . could dip below to take out stop or weak longs. . ...

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

Lots of things to consider. . .

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

Two things to consider. . . 1) the wpp = weekly pivot = 136.53 2) the mpp = monthly pivot = 138.50 Close above or below 2morrow/sunday for weekly Close above or below month end for monthly. . .

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

Agreed, but GBP/YEN is a cross between GBP/USD = USD/YEN. . . Couple option why GJ would go dn. . . 1st = cable weakness and no interest in USD selling or buying. . . 2nd = USD buying and not interest in cable buying or selling 3rd = No interest in ...

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

I'm short UJ with you my friend. . . down we go. . . Not sure about the rest of the day looking to take some off before London packs it in for the day which is now. because you know what typically happen afte that NY BS!

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

In order to see GJ lower (which I believe will happen) we either have to see yen buying or USD weakness correct? In addition to GBP weakness or else we are just in the middle of a power struggle. . .

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

Agreed, 4hr is now suggesting short and I see a potential 136/135.50 possibly before it all said and done. . . 139.30/40 is cluster resistance and won't be taken so easily however I do see an upside wave afetr the correction lower thru 139 and ...

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

Price went dwon to 135.80 why another drop? and we should close above daily support @ 136 (daily 5 sma) so I'm seeing a move up 136.50 1st res and then 137 area. . . Waiting on my daily candle to close in an hour to confirm direction 2nite. . .

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