Truth be told, a child can usually read charts better than an adult. We, as adults, think too much.

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

Agreed to an extent, although the price is telling us what is happening to the consensus of people in the market. Price is, after all, only a psychological level as to waht consumers are thinking of the current situation. I read an article on here ...

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

Hi Zoran, I am with you absolutely in your analysis. I cant see 244 being hit directly, because I feel that more selling pressusre is about to present itself. I can, however see 241 being shown as the top before this pressure begins to take hold. As ...

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

Ok, here is my analysis of the monthly chart, which I will follow up on with the weekly and daily charts. On the monthly chart, we had previously made a new high at 251.10 or so- this was three months ago. This high was directly follwed by a new low ...

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

Excellent, thank you for giving me something to think about. I am going to look into my charts now and see if I can tap into your analysis as well. Afterwards, I will post back with my own personal findings and tell what I may think of the market. ...

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

I think that you are correct, although I personally doubt it could climb to as high as 244 before the drop. My reasoning for this is the fact that most traders are going to be scaling in as short beginning at 239. This, in my eyes, will create the ...

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

A thought that provoked quite a bit of thought, my friend! I was actually just talking with a friend today about my reasoning for going long if it would stay at the position that it did. We actually came about this while we were talking, and I am on ...

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

At one point or another, a nut gets cracked. May hurt, may not. Who knows... lol joking aside, I am, for now, just trading what I see on the daily charts. There was a bullish engulfment pattern, along with the trendline not breaking down, and so I ...

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

at the moment, I'm thinking that it just depends on the news. After that, it would be more clear as to the prevalent trend.

Cable Update (GBPUSD)

Hey bullrock, if you look at the daily charts, the trendline is still in tact to the upside. This actually may be an excellent area to buy, but I am not an expert in news and so I would rather stay out at the moment. I do, however, feel that a rise ...

Cable Update (GBPUSD)

very true my friend, the volatility before news ofterntimes makes false breakouts that only end up spiking.

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

Thanks a lot Markam, I had actually thought this was what might happen but wasn't entirely sure of myself. Thanks again.

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

Anyone have any clue as to how the BoE's decision will affect the gbp/jpy pair? I am not exactly well versed in the area of news, and so I'll probably stay out of the position.

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

It may drop just a tiny bit just to pick up momentum to beat the rsistance across the board.

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

Most of the time, I am by no means saying that this will be your case, traders arent able to keep their balance attained with such a small amount of money as 600$ in the account. I have done that in the past also and lost my account. Then I waited ...

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

If you dont mind my asking, what type of account are you trading doughboi? Micro or mini?

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

Best advice in the past few pages. It does not come easy. Hardest easy money ill ever be able to make.

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

Right you are, my friend. Just as I said earlier, the trendline withheld and the price couldnt make a breach below it.

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

I am actually going to go with my feeling on this because I feel that the trendline will hold strong enough to withstand the downward pressure. I am going to buy at 237.00. Good luck with your trades as I am not too worried as this is only for a few ...

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

Look on the 4 hour charts also, we are resting directly on top of the uptrendline.

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