yes, but you see, you can't prove it. which means, you DON'T know it but you only BELIEVE they do something. wakie wakie mister alex. and i'm long g-j @ 129.90

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

yes, daily looks bearish but take a look at weekly - last week looks interesting, and more interesting is the fact that friday was not able to close below 132.10 (which is last trimester closing value).

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

also, take a look at volume balance. this shows the ask-bid balance in the market, and for now i see that this is still pointing to the downside.

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

that's not a confirmation. i meant, a reversal pattern from price action - do you see any?

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

what is your confirmation for reversal?

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

the real support is somewhere in the low 130, see chart; most probably below 130.43 but not lower than 129.70. looking at volumes at this moment, i doubt it will bounce to the upside... but anything is possible.

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

those are not trend lines.

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

i was expecting a deeper correction but it didn't happen. looks like weekly resistance was broken (red lines), so price should be heading up to 134.20/135.60 (monthly resistance, green lines).

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

not a must. may touch the line, or pierce it, or reverse before touching it. trading is not a sniper job, but more of a strategy plan. something else you may want to ask yourself - is that line valid? i'm not saying it's not; it's just that it was ...

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

ask-bid for g-u and g-j: looks like current move down is not matured yet (see red circles where it started and was confirmed) so i'm thinking another test of support may be next. for a significant move up i need to see a flip of ask-bid, which ...

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

my view on g-u. if wk resistance is taken, next is mn resistance. i already mentioned yesterday, a break of this area will bring 1.58/5750/57. otherwise, there is support @ 1.5450. similar for g-j: right at resistance, if broken then 134/135.50 is ...

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

quality post. very nice words from a very wise trader. thanks for mentioning me, it's a great honor to see my nick in one of your posts... i know exactly who you are and what are you doing here. well your job is not done... so keep posting.

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

quoting myself... here is a chart with my view. there are 2 resistance levels, one around 131.80 / 132.10, and the other one at 134.10 / 135.50.

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

may even go higher, i know 132.10 is an important level but i think there's a chance for 135.50 before another important move. g-u just bumped into support. aud is also at support. i don't know if we just saw a retrace inside a bull trend, or if ...

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

and here's u-j daily chart for you. buying already happened but that doesn't mean we're going to see a rally yet. i need to see a confirmation. i use fxcm data feed (through ensign). seems to be similar to g-j...

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

yesterday's candle had an unusually large volume. very interesting to see what's next -

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

yap... not sure about g-u though, if there's going to be a rally in g-j i think most likely would happen because of u-j. i mentioned earlier that i see a lot of buying at these levels - and while this is a sign that a reversal is cooking, however, ...

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

looks like it but it's actually not. big guys have been buying A LOT these last days. check out 12hr chart, the green bars show buying activity and that's right at the bottom. circled on the chart. also check out 60 min chart; buyers at today's low ...

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

yeap. no longs for me and selling all rallies. as of now, 1.2750 is key level but i can't really say where medium term bottom is. it may actually go lower... maybe another 1-200 pips... i won't consider longs until i see a solid confirmation that ...

vsa with Malcolm

the trend is still intact and is DOWN — not sure about what you're saying. the short term trend is down, and it should be considered down until proven otherwise. and even if it is like you say, that big boys are planning to buy euros on sunday ...

EURUSD