I think the drop might be coming soon. I posted about that last 4 hour pin bar. It seems like it is working out at the moment and this bar should close lower if not close to the low. We have support from 225.85 to 226.00. If and once this breaks, I ...

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

Agreed. I'm looking at 221 as a target. This is a little dangerous however, as price didn't even reach it on the last run down. This makes me think that your target of 221.90 is good and would most likely get touched. Good reasoning!

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

Pin bars. There was a discussion about them a few posts back.

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

Well, you just said it perfectly for yourself then. "For us pitchfork guys this is a no trade time." IF you don't see a trade, then don't try to force it. As for the 227.24 area, I could see that being a possibility, but I think we will just range ...

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

Looks like we are getting an indecisive bar on the weekly Eur/Usd. This, coupled with the trendline, makes me think longs could come into effect now. As for more downside, the risk is limited and so I would consider this to be a good opportunity.

james16 Chart Thread

Good stuff...Have a good weekend. Price is still having trouble moving over the resistance area. I doubt we will get a close above it for a while if we even do.

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

Weekly Usd/Cad chart. Looks like a good trade setting up off of resistance. I am already short and plan on adding to them until we reach the previous lows. Anyone's thoughts?

james16 Chart Thread

That's awesome, because I know exactly what you mean! I love that light bulb effect! hahaha

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

Nice!!! congratulations Pipchick!

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

Very much so. I'm looking for a good ride down from here again. I am just getting in to early. I could actually see a touch of 228 being a realistic thought IF we get a close above these levels.

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

Could you tell me what R1 is dagoods? I know your talking about the 1st level of resistance, but I'm not too sure as to where you have it plotted out. Thanks in advance.

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

You can see on the last candle that it closed with little or no real body. That, to me, is showing that it is indecisive to where it wants to go. This tells me that there is no real winner at the moment between the bulls and the bears and so price ...

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

It's not really all that good of a pin as there is traffic. Traffic means that it isn't moved away from any price. I'll post a pic of a good pin. It's not on the Gbp/Jpy though. This is shaping up to be a good pin bar on the weekly chart for the ...

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

We just got a bearish hourly bar. I think I might take a small scalping position short to, say, 226.30.

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

Hi Fx-Petra, could you tell me what the difference between the new and old ADP is? By the way, this is good stuff!

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

Agreed. When I started out, I thought news was the way to go to make huge profits, then I tried trading the NFP. 100 or so pips against me, then about 50 more and there goes a margin call because I was over leveraged.

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

I'm feeling like this hour's end is going to make or break the world.

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

There is no specific time for that, I'm only 20 and I remember that! You must have been a city slicker

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

Like I sadi earlier, the area of 228.00 to 228.50 could be a good spot of resistance. With that in mind, I think that if price does break this area of smaller resistance, then that could be a good safe target for longs to play out. Time will tell I ...

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

By daily pin, I mean a pin bar that has formed on the daily chart. Pin bars often mean that price is at an indecisive point or that a reversal could present itself. A pin bar is just one aspect of using price action to trade. Price action will make ...

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