You said it — Understanding this is as close as it comes to a holy grail...

EURUSD

Hmmm — Notice the similarities between the PA in these 2 areas. Both make a new high followed by a steep retrace, then 3 pushes towards a decelerating LTL and then *boom*. Sometimes-the trend is your friend... image

Cable Update (GBPUSD)

Agree — I hear you. Last week I posted that if we broke the bottom of the ascending channel, I would be looking to the 1.5440 area for support. By the fact that we just had a H4 candle that just covered all the area we've been dicking around ...

Cable Update (GBPUSD)

Calls — I'm not going to speak for the other guy, but if you look at a weekly chart, I would say something like "we've dropped 600ish pips in a largely unretraced 1800 pip run and you guys are calling it over?". Is it possible that this is ...

Cable Update (GBPUSD)

My H4 candle has 2 hours before close.

Cable Update (GBPUSD)

Shorts — I'm sitting on my hands until we hit that next fibo level and I'll be waiting for a stall or a volume spike before I think about shorting. image

Cable Update (GBPUSD)

Looking — Looks like a retrace to the 5632 area is probable, if not more. 5585 is less likely.

Cable Update (GBPUSD)

Hindsight — I prepared this chart earlier today, but got busy and didn't have time to post. image Was looking like a perfect Gartley setup to me and I figured we needed to test the bottom of the ascending channel again(which we have broken ...

Cable Update (GBPUSD)

Reason — Yes, it is because there were more sellers than buyers, regardless of what "we" were thinking.

Cable Update (GBPUSD)

Going up? — H1 Has bounced off the ascending channel bottom a couple times now... Also broke out and retested the descending wedge. image

Cable Update (GBPUSD)

Tank — I was waiting for it and am looking for more! Here's my chart Barely broke out of the ascending channel, and back in with conviction. I'll be looking for this to either touch the other side of the channel(and probably pop through a bit, ...

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

Shampoo? — Anybody else see this? What is the VSA saying about this pattern?

Trade Using VSA (Volume Spread Analysis)

EY Broke out of the triangle — Will resistance become support?

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

GU Bounced off lower TL — looks like this move came from bouncing off the lower TL. Oh yeah, also bottom of descending channel and daily S2. Also 1.3935 is weekly pivot. Perhaps we'll stay around here a while?

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

Just noticed — Just noticed that the S1 that we just bounced off of is also weekly S1 that we bounced off on 3/2

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

And then there was a doji... — Where will the beast go now?

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

going up? — bounce off of s1 to the pip. followed by another bullish candle. No close below 136 yet. Seems like there's lots of buyers down there.

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

Possible H/S on GC & GU? — Time will tell...

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

Well, who knows really, but GJ price danced around DP all day then dropped to S1 (to the pip) and retraced 100% of that move. Perhaps R1 is a plausible target.

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

True, but we did just have a 1000+ pip move up. It's not unusual to have a little ranging/consolidation after a big move. Daily trend is up, and we have yet to have an H4 candle close below 138.35 area. Seems like support is forming...

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