Yeah, I know. I don't really care but it's sad to see people who were 100 pips up on their trade come here and ask for advice when they are 100 pips down on the same trade.

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

Doesn't matter, some people will interpret that as "will" and come back to haunt you!

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

I saw this recent 3000 pip fall about 2 weeks before it happened. Was I in from the top? The answer is No... because it went 200 pips higher than I thought so I got in a bit late. Now had I gone in with smaller entries I would have had a higher ...

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

This is not a simple question as my intentions are probably different to most. I have been building up small entries so my risk tolerance (in terms of pips) is higher than most but so is my reward. If you want a target then 239.00 should be OK. If ...

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

In my opinion, this is the last level of bear defence. It is not necessarily the reversal level of a big fall but it could be. This is my make or break point so if it breaks north then I will probably join the bulls up to 244 and then 247.

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

That stop looks OK to me but what is your target? Is the risk to reward appealing?

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

They are a determined lot. This could be the last level of defence for the bears I think. Bulls are pushing hard to break it.

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

Yes, I put some money on a short

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

I'm expecting a bounce off 240.20 (south).

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

Yep, that's why I use harmonics as secondary indicators. I tend to follow the fib ratios on the harmonic trader site.

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

Now that's an ideal butterfly. :

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

Yes, but the B point is not at 78.6, that's why I did not see it. The B point is the most important for me. I also like it to be pretty much to the pip.

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

Nice one, thanks for that! I can see price is stuggling to move to higher grounds. Temporary?

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

I just have a resistance line that was formed back in July/August. That area could possibly be the last defence for the bears. Next levels will be 244 and then 247. If 240.20 fails then I could be looking to turn my red pips into green pips by ...

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

I can't see any butterflies. My butterfly has a B point at 78.6.

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

Next resistance level is 240.20, though we could have broken back over a trendline to support the longs again.

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

Just came down to get some water.... You don't know about this guy and his magic wand? With one wave, all is saved.... now this magic wand will hedge all of my shorts at 239.80 and it will keep everything safe until I reach my target or everyone ...

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

Phew, thank god, I thought it was going up there for a minute. Well, you know, the market will decide so have a good day trading and as I hear some say... May the pips be with you! Off to bed now....... ZZZZzzzzzz.......

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

I've borrowed a magic hedge wand from a fellow trader named Mick Mason. It saves me all of the time. Have a good day trading mate and see you all tomorrow! My bed is calling me.

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

I think his patience may have run out. jking mktjong

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