. couldn't help it.

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

right. right...

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

no bulls. just taking some profits for now. bulls would have pushed this up very quickly.

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

and even more below... true, but not in the very near future. it is currently correcting so we'll have to wait.

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

after ny will close today, the key level to downside will be 131.90. also, until next london session will close, key level to upside is 134.80. IF we go up, then it may test very well 138.45 - upper limit of medium term channel. a break of ...

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

we are in a ranging market for now, with top @ 134.79 and bottom @ 131.91. if we go above 134.79, then 136/138 might be next UNLESS support is broken.

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

we're @ 134 now... another sneeze and hello 135. for me, this is not really going long he mentioned 138 or so, and i was actually talking about longs to that area. sorry. hope this makes sense...

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

correction could mean 2 things - 1, ranging (or consolidation); and 2, rally. i wouldn't mess with longs, but that's just me. medium term trend is still bearish, and any rally should theoretically be short lived; not to mention that correction ...

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

thanks. it makes sense, if you come to think of it - forex markets never close between monday (first nz orders) and friday (last us orders), so to speak of a daily close is not quite accurate... i know i am going against the conventional wisdom ...

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

he knows it too well... just a little bit of pushing up... he must offer a better price for big sharks to short. where would be all the fun if he didn't do this?

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

i am usually watching 3 different daily charts for g-j depending on the session close - daily candles that end @ tokyo close; @ london close; and finally, the classic one @ ny close. here is a chart where i overimposed all resistances for these ...

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

yes. i placed shorts @ 135.10 (that's 100 FE) with stops above 135.56... planning to lock profits as we go down. no target for downside yet. if my stops are triggered, most probably i will step aside as i believe there will be a complicated ...

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

for a better view of the lower timeframes, i am posting a chart showing closing levels for tokyo and london. price went above both, so atm there is only ny horsing around with it. but as soon as a close is in place for american session, and price ...

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

and the third opinion - if we see above 135.56, then it's going to take a little bit longer for a new low.

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

and up we go...

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

on and off... yesterday i went to LA to see A-ha live... farewell tour, last time in US. too bad they will split soon.

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

bottom is put by buyers, so bulls.

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

the time of the day is not relevant for volume interpretation. lower volume = less activity.

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

if we go above 135.56 by next tokyo close, this means a bottom is in place and we should expect a significant consolidation/corrective rally. if not, well, we continue lower.

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