GRRRRRRRRRRRRRRR Yep, that's 1 more R than you.

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

Click on your monthly chart and go back to the highs of 1998. Draw a S/R line at the level there and match it up with some recent S/R (i.e on weekly/daily chart). That should give a fairly good indication of the strength. The bulls are stong but so ...

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

I'm trading against someone who I think is the greatest trader in the world. He thinks this is going up so I would like to be right but I have a plan in case I'm not! url

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

The down side to being short but the idea is that pips pay more than interest. I could have closed for several hundred pips (on the multiples) twice already but I am thinking this resitance on the monthly should pay up - otherwise I'll be joining ...

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

I'm not taking it the wrong way, just a misunderstanding on your part. I have not added to shorts. My short-term entries were placed a week ago and nothing has changed.

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

Short term positions are in and waiting for maturity or reversals. The levels are fairly clear seeing that we all agree.

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

WOW, did I really post that 6 hours ago? url

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

My time analysis isn't very good unfortunately. We need some Gann people in here.

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

Hundreds of pips against is not necessarily a big problem assuming risk to reward is still decent with a reasonable probability of success. It normally just means it's a longer term trade.

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

This was posted about 3 hours ago so it could be ripe for a fall.

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

That's not a trendline on your chart is it?

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

If the bears persist then the minor support should take about 3 to 4 hours to break (end of US session).

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

By saying the "bulls running out of steam", I mean the bears take control, so I don't think the bears will take it much further than 231.5. However, the bulls could still be in control and retreat a couple of hundred pips before they push forward ...

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

Bulls will have a clear run after 241.5 but it will be difficult getting there. The wall is thick and they will need to retreat many times, however, they may also run out of steam and regroup at 231.5.

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

The resistance (grey line) is fairly thick so I would expect a few bounces off it (at deeper levels). But is it thick enough to exhaust the bulls?

Daily GBP/JPY analysis

Nothing has really changed with my positions. I'm still holding shorts for the longer term with the main target being around the mid 231 region. I may take some off at 234 and hold some for a potential 221 target though most will be banked around ...

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

Here is a chart. The grey line is the wall.

Daily GBP/JPY analysis

Here is a chart. The grey line is the wall.

This weeks GBP/JPY Analysis & Predictions

Nothing has really changed with my positions. I'm still holding shorts for the longer term with the main target being around the mid 231 region. I may take some off at 234 and hold some for a potential 221 target though most will be banked around ...

This weeks GBP/JPY Analysis & Predictions

Nothing has really changed with my positions. I'm still holding shorts for the longer term with the main target being around the mid 231 region. I may take some off at 234 and hold some for a potential 221 target though most will be banked around ...

Daily GBP/JPY analysis