New daily moms pointing down. Yellow 38 fib held as resistance, so far. Green 22 sma holding as resistance so far. Looks like consolidation pattern to me.

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

Asia is the time to study your charts looking for patterns.

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

Possible King's Crown formation on this 15 min chart is bearish. Moms are turning down.

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

This hourly shows the 5 sma channel trying to roll over. If consolidation continues, then it may turn into a flag pattern. These things take time to play out.

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

have you noticed, after an Asian holiday, Things are ass backward for the first half of that next session?

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

This hourly chart shows the likely downside targets of this retracement. I have loaded a few shorts to exploit it if it happens, before the next breakout up.

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

I will know more when I see next 4 hour candle.

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

Then that would be a triple top, and less likely to hold as resistance.

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

Also a double top formation, and look to see what happened the last time price got rejected at this same level. You cannot ignore that.

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

We see a possible reversal candle on this 4 hour chart, not yet confirmed.

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

This is the sideways consolidation i posted about earlier. Time for standing aside and using caution for me. For those of you who like risk, then switch to a channel trading technique, looking to trade against the big moves on the early asian ...

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

Good technique. Less risk tolerant traders, like me, prefer to do this on the higher times where the chop has been ironed out. Then fine tune it on the smaller time frames.

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

Those green lines look yummy to place a tester buy. Good risk to reward.

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

I see more downside, also

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

Dow should have finished higher. Not enough conviction yet. I look for consolidation of the big move before breakout.

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

I got a bearish vibe from the mid U.S. session. We could see some downside.

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

Divide each Forex trading session into 3 basic strategies. Asian session sqeezes shorts and reverses bias a lot of the time. Look for that pattern when it happens. Exploit it. Know when the tokyo price fix occurs, when they go to lunch, and when ...

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

The world is crying out for a Saviour, or a Messiah, or a 12th Iman, or whatever that particular culture practices. The handwriting is on the wall, just as in the Book of Daniel to Nebechenezzer. Things are falling into place. Governments should ...

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

Here is what I have observed this week. This a free tutorial for Newbies... Charts have been hinting to us all month where the market wants to go. Watch the money flow. Commodities are being bought. Equities are being bought. Money is being enticed ...

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

You can see where the cable price was rejected at the pink 300 sma on this hourly chart.

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