don't forget that we are inside resistance area - upwards continuation is limited by 144.45 level. IF we get a daily close above this level, then yes i think the rally continues. if not, back to monthly support. oh, btw, tomorrow we get a monthly ...

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

i don't think e-u will retrace significantly. it looks like another bear flag. as for g-j, no surprise. 143.75/144.45 is resistance area. a daily close above 144.45 will bring resumption of uptrend; or a weekly close below 141.87 will meet 136. ...

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

hm. maybe i'm not getting it right, but unless i see u-j closing today below 93.95 / or going below 92.98, i can't have a bearish bias... g-u is right at support. g-j bounced off support, and has a little bit more to upside resistance... so i don't ...

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

no trades for now. we are between support and resistance, see my previous chart, so better to stay out.

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

"hidden gap" is a ff user, and that volume is his indicator. it is no different from MT indicator, it just colors bars depending on their size relative to past bars.

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

brief update — h4 chart showing current monthly/weekly/daily levels. i used the same color coding for each so everyone can easily follow my comments. we already have a daily support @ 142.35/45, backed up by monthly support @ 141.87. - if this ...

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

well a blind man from new jersey could see that coming. i can't help asking myself who in the world lend them that much money in the first place - but i bet it's the same people that are crying now "greece is bankrupt and needs a godzillion dollars ...

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

monthly support held pretty well. now we also have a bottom @ 142.35/45 according to intraday volumes and i expect it would be tested.

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

yeah how nice of him. they really want to nail poor Greece, and now they are just playing with it, like a cat with its prey. something else is going behind closed doors, there must be someone or something trying to rescue Greece without approval ...

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

p.a. = price action.

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

true. however, keep in mind that an h4 candle is irrelevant when compared to a monthly level like 141.87. not even a daily candle is strong enough... although sometimes will do it. for monthly levels, you need to watch at weekly p.a.; for weekly ...

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

YES it matters. any close is important, and daily close is a short term s/r level that provides very good entry points when correlated with main direction of trend, i already explained it to you why. put it on your chart as an horizontal line and ...

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

daily chart is always doing what monthly and weekly are saying. look at them for more clues about main direction.

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

i don't know... you have to evaluate your mm. it might go up, or it might just consolidate at current level. i already moved stop @ b/e, so it's a free ride for me IF we go there. by the way, trading day is coming to a close in one minute. today's ...

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

because that's where most intense activity happened during last 24 hours. also, consider this: - we reached an important monthly level - 141.87; - configuration on h1 shows that we have a (temporary) bottom for now... time for retracement, or ...

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

i took a long @ 141.65... it should be good for about 200 pips... or so. strong support @ 141.85/55; first important resistance @ 143.50. this is the range for now, until we see a break either way.

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

yea! sorry... yes, february close! 135.53.

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

look where last month closed. and until we get a new monthly close in place, that one is the last important s/r level to watch. i will post a chart when i get some time.

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

i replaced 1.5 with 1.6... got rid of some bloatware applications... now it's working MUCH better... anyway, this is off topic so let's not go on with it here.

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

and here is the chart.

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