Rumors aside, what can really be done for an entire country over the weekend? I do not know. Perhaps there is precedent. I suppose a vote of confidence stops the bleeding. NM

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

And — The Geppy lost some ground.... NM

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

Hmmm.... — 133.50..... eventually. Don't mark my words. NM

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

140 — I am sure it is obvious but: Right now, 140 GY = 10000 on the DOW. Let's see how it plays out. NM

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

Last line of defense — 142.60 seems to be the last line of moving average-based defense. It is the 2nd standard deviation on the 500 period 4H chart of the bollinger bands. It has basically capped the Kabooms (with a surge here and there), as ...

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

Uncertainty — There is a lot of uncertainty here. I like Raza's wave structure. I only thing I can think of is that the GU is selling into strength given the fact that the stock market was up big today and the GU was flat. EU is also up, which ...

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

Good point — Good point. Thanks. It is certainly flailing. Early Sunday could be a temporary flush. We'll see. NM

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

PA — This is getting weird. In inverse H&S is turning into a regular H&S (uneven shoulders, mind you) with a target of 141..... NM

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

Pattern — If the H&S pattern does not hold, it will be a major disappointment. Major for the bulls - price will likely drop big time. NM

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

We all got advice.... — My biggest piece of advice - you need to use a stop loss. It takes a while to really get used to making use of one. However, if you manage losses, then the profits will come (I think Donald Trump said that - ughh). I ...

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

Support? — There would seem to be neck-tie support right at the 143.80 level based on a daily lower trend line (all the way from 118 and through 139) and a descending channel. Could suggest a massive bounce to 147-148. I know, it sounds crazy. ...

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

nIce — It's amazing what a short squeeze will do. NM

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

Waves — I believe it was suggested a little earlier that the big drop that we just experienced is likely a wave 3, according to Elliott Wave theory. If so, then the minor bounce to 146.70 would be part of wave 4. However we still have not made ...

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

Hmmm — How about five waves up from here to complete wave C of a wave 4 correction? Not sure if an ABC can make up a wave 4, however. NM

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

Retrace — Any thoughts on a retrace at this point?

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

BoJ Selling Yen — That is an interesting idea. GBP/USD just fell through both 100 and 200 daily SMA, which would suggest limited upside on that front. So, the strength would likely need to come from USD/JPY (stronger economy, risk aversion, ...

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

Big move — It needs to settle down first. Then the wagons will circle and a decision will be made. Also, if we break up (i.e. 150-151 range) there will likely be a wicked reversal. So, be careful. IMO. NM

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

How low right now? — I am wondering if we will actually see < 147 before we see 148 +. We are at the LTL of the long term up channel and basically the LTL of the current down channel. I suppose in an effort to hunt out stops the market may gap ...

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

Bearish Gartley — Any experts on bearish gartleys out there? Looking similar if it pops. NM

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

Stength — The strength of GBPJPY is comparable to the previous high. In other words, it is extended to the same degree given the volatilty. This would be the place for a turn down if it was to happen; otherwise, 149.50 is the next max. NM

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