All of my protective stops on Gbp/Jpy got hit last night during the upmove. I am still in a bearish outlook on this pair however and look to short whenever a good possibility arises. I'll post results when I get back later tonight.

MW's trading journal

Agreed on that. Price is still hanging around that projected fib line on the 4 hour chart. It just spiked up last night and now we are back to the normal rounds. I am still looking for price to drop quite a bit after this area of congestion. I am at ...

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

I guarantee a LOT of people got stopped out on that if they were in shorts. This is telling me that buyers should probably be in control for a while now. Time will tell.

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

Wow, that was a big hit. Anyways, if you'll all excuse me as I go on my killing spree now. Jk. I am taking a step back now and reevaluating the situation. I will post as I see anything tradable.

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

Yeah, that had some ridiculous power to it. I just hope this doesn't have the steam to hit my stop loss. I doubt it will though. I am just hoping that it behaves the way that I think it will and have a close at or below that resistance level, which ...

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

Here's the chart that I am seeing.

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

I think it will take more than an hourly close above that area for bulls to come fully into play and so I am still hanging onto my shorts. Right now, we are facing resistance on the 4 hour charts and I think price will bounce back down away from it. ...

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

We are at that .8750 area now and so I would be looking to add on to my short positions, but I don't want to over leverage myself. This would be a fantastic area to add to the shorts that were posted from the daily close. This would give us, ...

MW's trading journal

I agree with that. Fundamental analysis always plays out in technical analysis through price action.

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

Great! Thanks a lot, I really appreciate the info. This is something to take note of during any large news event or any event that could move the market very quickly. If nothing out of the ordinary happens during the news event, then this squeeze ...

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

Hey Quecee, could you explain your thoughts on what entails a "typical short squeeze"? I think this is something that not a lot of people understand to the full extent, myself included, but is something that is of great value in trading. Thanks in ...

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

Exactly Ademac. I wish I could expell words like that. haha I was having a hard time trying to figure out the best way to explain but you just did it for me. And thank you for your patience. Pin bars that form as counter trend bars oftentimes form ...

Daily PIN Bars

I think we are going to move upwards a little to the .8750 area of resistance before collecting the force needed to push this pair downwards. Trading is, indeed, slow today.

MW's trading journal

Still agreed with you. I love it when others' analysis go along with my own. Let's see if we get a close as we have now breached it, but that means nothing without the close above it.

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

Sure thing, I can't wait to hear from you!

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

This is a fun little range we are in of about 50 to 60 pips now. I think we will break to the downside soon.

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

I'll post my thoughts for you in a little bit Ademac. I need to go out for a while to take care of some things. Sorry for the wait.

Daily PIN Bars

Agreed, Thanks Gene.

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

For the first, yes that's what I meant. For the second part, I didn't mean that the retracement should be early in the day, I meant that it shouldn't be based off of the retracement. It should be based off of a continuation of the trend. These pin ...

Daily PIN Bars

Yep, I am out until I see a reason to get back into this, which I doubt will happen anytime soon.

james16 Chart Thread