If you look at the upper trendline on the 4h chart, it is a strong resistance till now, if gj can break and close above it, 242.7 is easy image

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

I have 3 fibo levels plotted Low 221.05 High 251.07 (Daily chart) Low 237.58 High 251.07 (4h chart) High 242.90 Low 237.58 (1h chart)

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

open 1hr chart 100 = 242.90 0 = 237.58 you drag from high to low

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

well said, I totally agree , Everybody just act maturely.. we're not kids here Let's trade and make some $$$

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

It matters, if you want to find out the retracement of an UPTREND 100 level will be the LOW zero level will be the HIGH for a DOWNTREND, it's vice-versa

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

Ofcourse everything is possible, that is why you should learn and trade by your own, I'm just human 1h candle closed above 61.8% fibo, the 100% and 38.2% (251-237.5) both lie at 242.70 area, so i expect a test of 242.7

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

My analysis, 242.70 then down

Daily GBP/JPY analysis

based on 1h chart, fibo levels

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

no, Daily and 4H still bearish to me *don't trade my calls, i don't want anyone blaming me because they lost..

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

[/LEFT] News will indeed affect the price but Trend always win, Auslanco said it a couple of days ago here as well

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

you will need to practice more, trade more, get experience nobody just simply gets it the first day, week, month.. I've been trading now nearly a year and I consider myself a newbie.. i do mistakes still but there are certain rules you must stick ...

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

waiting for my tp to hit 242.70

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

Study, learn, practice, good money management, don't over-leverage, you will be fine Trade what YOU see, NOT what others are seeing

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

You must use good money management in order to stay in the game, I use 1% of my account per trade.. so even if it goes against me 500 pips, I lose 5% only. every 100 pips is 1% of my account

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

no sign of short yet, 242.70 is in sight edit - daily trend is downtrend... might change at the end of the day, we wait and see

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

Ofcourse, I love this pair.. it is so volatile but you should be careful though coz if it unwinds and you're on the wrong side, it will hurt.. a lot!

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

Just closed 1 of my longs I had since yesterday Up or Down, we make money son

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

It is testing 38.2 fibo (239.60) and might test a daily trendline I have at 240.00, if it fails to break.. then we'll see what happens

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

I closed 1 of my short positions (+65) since new candle opened outside the channel, expect price to go up to 239.6 - 240 one short is still running.. so let's see

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

If you look 2 pages or so back, I posted a 1h chart with trendlines, the value was the upper trendline

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