i know exactly how many newbies are reading this thread. And I know good and bad info when i read it too. The long term time frames tell us where a pair has been, where is now, and where it wants to go.

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

There are different styles of trading. Most of the posts i see here are trading indicators, which will lose in the long run. I trade the weekly charts and price action from candlestick formations, swing highs/and swing lows.

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

no offense taken. Look at the weekly cable. I am posting for the newbies on this thread to teach them.

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

i have been posting all week the cable was very bearish.

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

yeah, gene22 is correct. I have micro lot buy order as a tester to catch a bounce if it occurs. moms are showing a retrace is due.

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

easy. Bearish engulfing candle yesterday.

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

here look. triple bottom. It hit and rejected 2 times already. feb 20 and may 14 lows.

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

look at your charts. that level has been hit 2 times and now it if hits it again, it will be 3 times.

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

i gave 4 set ups yesterday. they are looking pretty good so far.

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

here is the daily cable chart. 1.9362 will form a triple bottom.

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

good morning all. eur/usd is approaching my buy order on the double bottom and gbp/usd is approaching my buy order on the triple bottom, and my short aud/usd from last night is looking good.

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

good luck to ya. I am off to bed.

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

also can you see the double top on the daily chart?

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

the daily aud/usd is trading above the aqua colored 100 sma but you can see a breach and retrace. 1c mom shows a retrace. 14c, 10c, and 5c are quite bearish.

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

also the weekly aud/usd is showing 3 waves up, so expect a corrective wave 4 down to at least the green 22 sma at .9258 or the 61 fib at .9120

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

yeah, retrace up to the 5 sma low is most likely to above 94

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

Weekly chart shows a serious breach of the 5 sma low. Price is trading below it and also below the previous swing high from November, 2007. More downside is likely until uptrend resumes. retrace up to the 5 sma low will likely bounce on the first ...

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

you have right ideas. Just need a little more precise entry. you are doing well.

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

your gbp/usd position looks ok to the daily 5 sma low

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

target .9360 for now.

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