You said we may have one more push upwards, and I think you have a solid chance of being correct on that. On the 4 hour charts that close in a half an hour for me, if closing at this level, will be closing as a pin or close to it. I will be trading ...

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

The hourly is not going to close as I had anticipated and so I will not be taking that trade. Today I think I am just going to wait for the daily bar to come out.

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

At the moment, if you look on the hourly charts this looks to be just a retrace from the last move upwards. It's gone to the bottom of the retrace so I am personally thinking of buying this when the hourly candle closes. It will be closing with ...

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

If you look on the 15 minute timeframe chart, this could possibly be another head and shoulders pattern forming.

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

Thank you Karmo. Why would you consider this pin as not being valid? Other than the fact of traffic beforehand.

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

As I am not familiar with Gann/TFT, could you tell me where this area is? I am still unsure right now as to whether we will see too much more downwards momentum as the daily came in as a pin bar. I think we could possibly see 238 again as a low.

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

Im still with you on shorting this position Karmo. I think this is a "correctional wave" if thats what you want to call it. This is a perfect area to short in at as it is in convergence with resistance. I hope the next 4 hour bar can close where it ...

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

Looks like this is going to close as a pin bar on the dailies. This is going to push forth the buying pressure. I think that may have been all the retracde that we would see.

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

Yes sir, Im with you on that. There will be some solid support around this area, which is why I plan to scale down once we do get to it. I am not entirely sure that the retracement is over just yet. This is because of the 4 hour bar. It closed as ...

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

I think it will continue longer than the next hour my friend.

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

Yeah, I guess you are right. I already got out of the position at 25. It could play out well, but it's also a dangerous thing to do if you care about your money. Thanks for the input Zoran.

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

Although his entries are amazing, do not follow blindly into a trade. If you do this, you are setting yourself up for disaster my friend. Learn as much as possible about the markets and then apply what you know to identify a reason for entering a ...

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

I understand this. When you just said this, it was like a light going off in my head about the 5 sma. This is basically what the price is attracted to, because due to variants it has come off course. Then it is just making it's way back to the ...

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

I understand what you mean by this. With that, however, the currency pair needs the consumers to buy or sell to push it in the direction of these sma's. This is the buying and selling pressure that I'm talking about. WOuld you consider that as valid ...

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

I am aiming for around 237.70 as basically a top for this retracement. Looking at it now, I don't think it will move upwards all the way to 238. There's too much downward pressure to push that high.

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

I think we could consider this the third wave downwards. With that, you still have the fourth and fifth to make some cash.

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

I must admit, I just made a newbie mistake and I can't believe it. I just bought at .05 because I too think there will be a retracement upwards. This may work out and it may not. Ladies and Gentlemen, never buy into a downwards movement. Ever. End ...

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

Look to see a retrace up to the mid 50 to 60 area then more of a downfall. .75 will be the absolute top of this retrace before moving downwards again. Just another spot to stack up more shorts.

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

Words to live by. I think this needs to go in the quotes page haha

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

Excellent, thank you. Have you noticed throughout your experience of using the 5 SMA that it does almost the same job as the 38.2 Fibonacci retracement level if used correctly? In the last few seconds, I have been testing it and have noticed that ...

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