It may go down to 240.25 area based on the trendline, buying opportunities

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

You newbies should stop panicking and getting all worried, if you are using good money management and risking only 1 or 2 percent, there is no need to worry. If you don't know what is money management, you should go to the beginners section and ...

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

GJ, UJ, and GU all went down together to touch their 4h 5SMA and bounce

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

I don't know about these indicators but based on my strategy, expecting it to go up to 119.45, 119.65 and if these are broken then 120.30 area

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

I hope you also read url to learn more about fibo retracements and how to use it. There is no certain number, I use price action, candlestick formations, trendlines and fibo's all together No problemo

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

new 4h candle opened above the trendline, expecting upward movement image

USD/JPY Discussion

I use multiple fibo's on different TF's Read url , they explain it better than me, go through all 4 pages

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

If 4h candle closes below the trendline, it will drop like it did earlier, strong resistance at trendline

USD/JPY Discussion

Open up a 4h chart If you are using MT4, go to: >Insert >Fibonnaci >Retracement then drag it from the highest point on 20th July till the lowest price we had today, the 23.6% fibo level you'll get is 241.30 (earlier today price hit that and fell ...

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

It is going to test 241.30 again which is the 23.6 fibo level, becareful

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

no trade at the moment, just observing and enjoying my Pepsi

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

I doubt we are going to have a long position soon, 4h candle earlier broke trendline + 38.2, but let's wait and see patience my friends

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

Testing resistance again.. price just touched the 4h 5SMA too

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

that's your broker playing tricks, there is no spike up buddy

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

Price retraced till the 23.6% fibo and closed just below it, then fell and now it's below the trendline and the daily 38.2% fibo, if 4h candle closes below these 2 levels, we might see even more sell-off image

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

the narrow band on my chart is a trendline and the 38.2% fibo, waiting for a breakout

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

you can enter short from here if you want, we entered at 239.85 which is where the price is now sell @ 239.89 area SL 240.92 TP 237.76

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

don't panic, be calm and have no worries

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

The signal we got earlier was this sell @ 239.89 area , SL 240.92 TP 237.76 Price is now at 240 which is higher than our entry, your decision

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

Thanks for sharing

Candlestick Patterns for Beginners