brief... — from monthly to daily, this is what i see - - mn is still in downtrend; we are still seeing lower highs, but no more lower lows = temporary bottom might be in place. if we go down to weekly, this bottom can be clearly seen @ 130.03; ...

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

upper limit of the descending channel is from here to 134.92 area; if this resistance is broken then yes i believe we will see more to the upside. otherwise... down again.

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

ticks are not recorded. it would be possible if you find an indicator that actually can record all ticks, and then you know how many were up and how many were down. but you would need to leave platform open forever...

vsa with Malcolm

yes, well, surprise surprise... been there, saw that, done that... this is only the beginning. buckle up, it's gonna get funnier soon

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

and this is daily chart. 134.92 and 131.77 are this week's limits. if 134.92 is broken, then 135.59 is next (not much of a trend there, isn't it); if 131.77 is broken, 130.03 is next. this one looks better... low volatility until tuesday. enjoy the ...

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

naked chart at the beginning of month - so far we have 132.10 as support; if broken, we go down to test 130.03 area (and i explained that this may extend down to 127.95). on the upside, there is 134.38 as resistance. since price is above monthly ...

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

some selling going on during last hour... let's see what's next. i would look for selling opportunities, but that's just me.

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

not necessarily buyers... this move up could also mean profit taking and it might be a good reason to test resistances @ upper 134 area. u-j doesn't show any signs of bottoming yet. g-j went a little bit up because of pound, but as far as i'm ...

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

tip — simple approach - this chart shows buying at the bottom of the range, but NO selling. most probably, this is profit taking mode and support will be retested again and then we'll see if we are going up or down. p.s. if there's no ...

vsa with Malcolm

very interesting... i see buying at the bottom, but not yet selling. it might be possible to see price going up and down within this range (131.30/132.40), although i believe stops have just been run with the last dip to 131.26. going up for now... ...

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

yes, and price keeps going down. this means they didn't finish buying... simple thing - when they finish buying, they will start selling and we'll know it when we see hidden selling on every rally. that would be the safest moment to go long ...

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

according to weekly chart, next support is @ 130.05. if we go to daily tf, this weekly support can be extended as low as 127.95.

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

monthly candle will only change monthly levels, everything else will stay in place...

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

as for cable... still bullish until lower limit of channel is broken - 1.4729 area (higher high + higher low on weekly); in fact, i think that's where it's heading for now.

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

we are at the monthly support, 132.65/131.63/130.03 - see chart.

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

well well, no more downside for now. alright, let's see if it can rally back to 134.70.

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

no, no sarcasm, i don't usually do that.

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

yes, you are sooo right. i'll jump into a retrace as soon as i can see it on my smaller tfs...

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

you probably know that... — no uncertainty, it's very easy (although not very intuitive) - when you see prices heading down, professionals are closing they positions (because they sold at the top) and maybe already buying. just like now on ...

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

the drop is not done... yes i can see smart money buying (huge volumes on all tfs from h1 to m5) but i just can't see them selling yet ... and so if they don't sell, it means they didn't finish buying (accumulating).

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