Good comment!

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

My SL is 30 pips today but usually it 50 pips. GJ could run up to 228.22 if we get a good bull run. . .

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

Thats why this thread and the people on it are great. . . I myself enjoy all the views on this thread as it helps us to become better traders in the end. . . Good luck today guys and trade wisely. . .

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

Yep, I'm short as well @ 226.90 but with very tight stops just in case we get a bull run up on the news. . .

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

Exsisting home sales may not be bad considering its yesterdays news and how it is calculated. However, the Biege book information will give clues as to what the Fed's plans are on Dec. 11 (a rate cuts or hold) which in itself could send this pair up ...

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

Futures are set to open mildly up (fair market value) could push GJ up a bit but the news will ultimatley determine were it goes from here. Right now it's anyones guess. But as always we must trade what we see and if you are not in by now I would ...

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

Stocks looking to open lower lets see what that brings us. . .

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

Agreed!

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

GU 15 Min Chart — Anyone notice the GU 15 min chart? GU seems to be making a series of lower highs. GJ could be headed for trouble shortly if GU sells off rapidly.

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

Birdt, Do you mean 223.80 not 233.80 correct?

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

I use a simple chart program from www.fxstreet.com, nothing fancy. Or I just do a quick calculation High - (High-Low)*50% (from last bull run). . . 225.77 - (225.77-222.44)*50% = 224.10 I also get pivots from here which I found to useful as well. . ...

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

GJ should retrace to 50% fib @ 224.10 or maybe a little lower. . . However, watch out for the bounce @ 224.50 it could stop there and then resume upward.

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

That could change 2morrow with US Durable Goods and Existing Home Sales due out 2morrow and is likely to be bad for UJ and thus GJ. Also, 2morrow afternoon the Fed Beige book which will be key as to what the Fed's will do on the Dec 11th meeeting. . ...

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

I see resistance R2 resistance @ 225.53 and 61.8% Fib resistance @ 225.63 (on 4hr) which is where yesterdays spike up stopped in its tracks. These maybe better shorting opportunity. . .

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

I think we'll see GJ spike up and run some stops above 225.20/30 area and then come back down. . . Starting to build shorts on the way up. . .

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

Just a note to all that are shorting. . . If GJ gets above 225 there is a possibility it will run to 226 before heading back south.

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

That's a very good call. . . I thought we would complete it with a push up to 225.30 area but it didn't have enough momentum to get there. Maybe that's why it has since then pulled back to retry. . . Also, the bounce off 223.97 which is hourly S1, ...

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

221.60's is where I see it eventually going. . . It may have to touch 225/225.30 before heading south. In the meantime it may drift down to 224 and possibly 223.30's. . .

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

PC, it may take a run up to 225.30 before finally heading south. I think there are some stops up there. I'm prepared to add to my short if decides to go up there. . .

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