Indicators are still UP, per say. But the last 4 4H bars have stayed nicely under the Uppter descending TL. The sway should happen soon to a down trend. Unless GDP comes in wicked positive. ohhh, look at that dive south, as I type..... Nice.

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

i only take a 1h Gann bounce in the direction of the 4h trend. she's riding down that upper tl nicely. so ran a small position short.

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

Did you take that nice 1H Gann bounce short for 30 pips ? ;-)

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

I was in now way telling you not to take a trade. I use a 1H/4H strategy and I scalp as well, so I know what you're up to, taking it both ways.... 204.18 would be the bottom of this descending 4h channel we're in. A break of the lower TL would bring ...

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

Bearish Divergence on the last 4H bar close......

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

I also do 4H Gann bounces. Along with 1/4H channel TL bounces (limit orders 7 pips before TL) with tight stops. Usually work well and wins far outweigh any loses.

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

Even better. 207 - 200 - 211 ! btw, thanks Q. Our systems were very similar and then you added the ZLM to my arsenal. ZL Macd, Divergence, 1/4H tfs...... $$,$$$

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

206 to 203 x 1 lot works for me !

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

4H ZL Stoch and ZL MACD are about to cross up. There was also a bit of Bullish Divergence on the 4H. With a pass of the Gann and a break of 206.05, I'd look to 206.40 and then 206.93. Above that, up to 207.53 or possibly a retest of 208 area. BUT, ...

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

I think if the 4H can breach 204.39 before the close in 30 mins, the 200sma on the 4H is my TP. (201.30 area)

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

you babble ? ;-) babble away bud.

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

Of course 200.91 was BCS (best case scenario) Just trade what's in front of you. My 1H divergence was very clear and just netted 50 pips.

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

Bearish Divergence on the 1H is telling me DOWN. Closed my long at 205.72, the last 1H bar close, as classic Bearish Divergence was shown, on the last two 1H bars. 200.91 will be my target area with a 4H lower TL break.

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

no sleep. 1am, awaiting my 4h bar close and feeding one of the twins as i type. good times !

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

If she turns around and breaks the upper TL on the 4H, I'd have her going to 208.40 area as Best Case Scenario TP. But, IF she turns up, I'd say 206.55 at least. BUT, I'm feelin a 61.8 fibbin crime comin on..... ;-) I'm holdin out for 202.30 area.

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

The one thing that almost always rings true. How you been Karmo ? How's married life treating you ? k

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

I agree. I'm looking at 203.10 area. This is S/R level on the daily, where the last upper TL break was. If the 1H turns up around the 50.0 fib, I'll add a small long, but I'm looking at the 203.10/202.23(61.8) area before another stronger move up. ...

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

61.8 fib from the last move down is at 205.43. If it tops out in the mid 205s again today or tomorrow, on the daily, we'd have a double top then sending us down to the 193 area, eventually...... Thoughts ? been out of the GJ for a few weeks now and ...

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

Nope. and I've been scalpin it up and down on my 5M strat all day. Full lots and 15 pips scalps work out just fine !

USD/JPY Discussion

The last 4 big moves Up/Down, on the 4H all had 61.8 fib retraces, almost to the PIP. I'll wait for 1.5840 area to go long. May not happen this time, but over the last week+, it's happened 4 times. typically during(or starting) the Asian session.

EURUSD