yeh i meant support. right. don't let me confuse you ... support.

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

first *support* is london close from yesterday - 128.99/69. if we go below, then 127.95/63; and if we go below that, hello new low ! btw, yesterday (tuesday), all three major sessions closed BELOW last weekly close (130.03): - tokyo - 127.94 - ...

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

the trend must be assumed intact until proven otherwise. in my view, 131 is the last resistance, so until this one is taken i will short all rallies... since i had a confirmation for short, and r/r was soooooo good... I TOOK THE SHORT .

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

you are not the only one . let's see where it goes from here.

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

testing the upper limit of descending channel, which is ~ 130.20. if there is a break here, then retracement is pretty much confirmed.

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

naked chart says bears are still out. we are below last week close (130.03). lower tfs show last resistance @ 130.61 area, so no longs for me unless i see a break of this area. what war?!??

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

quiet... where is everybody

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

no idea... but yes, IF we break 127.70, bears are in the house ready to play. lower low for weekly.

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

no shorts if it breaks above 131.45. ranging for now. u-j had a breakout to the upside and will probably need some retrace, g-u is just retracing (for now) but at some point will resume crawling up... so i think until these two go in sync, g-j will ...

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

IF we go there, yes.

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

your tp is fine, but sl should be 131.55...

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

... to his deaf dog, as he bumped into the wall.

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

unusual timeframe, but had to post it. no comments.

Trade Using VSA (Volume Spread Analysis)

makes sense, thanks and enjoy the weekend.

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

correct. g-j is not a buy, at least not now. will be IF it goes above 131.60 after today's close, but until then better sell into all rallies. now, if 131.60 is broken, then we should see a retracement to the upper limit of monthly descending ...

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

g-u already broke above the descending channel. here is the chart. also, when looking at weekly, we can see the highest volume bar EVER. and the candle that is about to close in 40 minutes doesn't look bearish at all - what i'm trying to say is that ...

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

here you go. you need to figure out the correspondence between your broker time and session hours.

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

i do, will post it here when i come back - couple of hours...

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

ny opened @ 129.74, london closed @ 129.17. as long as ny session is active, opening level will act as resistance. don't expect a retrace unless 129.74 is broken, or after ny closes - 129.17 is cleared.

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