i was looking at long term tf, and realized that we are at key support. intra-year support sits at 131.50/70 area and it seems to be last support. if it's broken, i expect a test of 127 with a possibility to continue major trend (which is down) and ...

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

yes, depends on when it gets there, it may shoot up to upper 1.54 or even 1.55... there seems to be some unfinished business up there, it's the limit between supply and demand for the current year and it hasn't been tested yet.

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

well... from what i see, we might have a temporary bottom in place @ 132.22 area... let's see what happens next - a test of 132.40? anyway, it looks like another rally to the upper 134.

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

i agree. here is a chart showing my short term view - as long as price is below purple line (that stays in place for monday), bias is bearish. i don't have a long term view... g-j monthly chart looks really stupid.

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

yes, u-j turned bearish... g-u turned bearish... so g-j started to pour. missed it. anyway. weekly didn't put a lower low; and i see the support for this week @ 131.25 area - which might be tested today if this pair is keeping the desperate ...

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

yeah, we had a storm inside a glass of water...

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

sorry, i am not posting anymore because this pair died or something... not much going on... so i am taking a break from trading and doing other stuff (most of it overdue for a long time). will come back as soon as volatility kicks in...

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

a breath of fresh air, besides beljevina's posts. thanks! pretty much the same view here...

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

yes... well, i don't know about 135.45, it's possible but may not get there. look at u-j and g-u charts, both are testing resistances - for u-j, it is 88.73-88.86, and for g-u it is 1.5191-1.5205. assuming both g-u and u-j are contained by their ...

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

well, anyway, should not go above 135.12 for the bearish bias... otherwise, i will reconsider.

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

some alarms triggered so decided to got out of my cave and check charts...

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

i don't mean a precise level, but rather an area. 134.35 is the most important value from the resistance area, and 134.64 is the upper limit - not yet broken...

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

resistance from last week coming @ 134.35; if there's a bounce, look for 132.70 first and then possibly 131.39. if 134.35 is broken, then 135.58 is next.

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

first, the data feed seems to be incorrect... try fxcm for instance. second, regardless of data feed... what is i see on your chart is a bearish bar on huge volume. until proven otherwise, i would say smart money bought on the dip.

vsa with Malcolm

yes, looks like they all talked to each other and agreed to stop moving... scalping mode for now. but i am watching pound, aussie and loonie for possible reversals.

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

you have been seeing 128 "today or tomorrow" for quite some time now... why don't you put it into your signature... it's not gonna happen today. london will close in about one hour, and so far it looks like american session is smoking the usual ...

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

end of week update... - monthly - still, indecision (chart not shown). temporary support in place @ 132.10. - weekly - lower low + lower high (third in a row), so medium term trend is still pointing down. and since we are close to the upper limit of ...

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

definitely wait for next week. now about the entry - considering the range, the best entry would be close to the top of the range, 0.8770; ideal for r/r; if price won't get there, then a break of lower limit might work as well - 0.8725.

vsa with Malcolm

another example — same thing for u-j: weekly profile, most traded area @ 88.45. waiting for a short confirmation.

vsa with Malcolm

background — weekly profile for aud. note the consolidation (distribution? re-accumulation?) @ 0.8750 area. once they start selling, down we go.

vsa with Malcolm