Thanks Geppy, you are a gentleman. My reversal point was 238.80 but it looks like it went 90 pips higher to 239.70. For a trade that has potential of several hundred on the singles, I'm willing to risk several hundred on the multiples - so I will ...

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

I don't keep selling. All shorts were placed last Friday and I am just waiting for them to mature. They are not intraday trades but short term (days to week(s)) Today I only traded a long (scalp) for +40 but otherwise I was doing other things (i.e. ...

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

For the bears though, this wedge looks ripe and I still see resistance up to 244, with the next level being at 240.20.

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

This is what I see/saw The small (purple) butterfly is what kept my shorts alive otherwise the lower ones would have been closed. So is this a H&S formation now? You can also see that trendline, which is the biggest threat to shorts for now. Then we ...

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

Ahh, there you are. Can you see a potential H&S on the 15 min? You would be shorting it about now right?

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

That's what I'm expecting but first a retrace to around 239.15. We are sitting on a trendline that has been around for 2 weeks so that will need to break first.

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

What do you think Geppy, build a right shoulder and then down or do your charts say more north?

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

Looks like my early entries were just saved! I would say the reversal is almost confirmed but went 100 pips more than expected. Original post here. url

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

That's what I said! Stop changing things around

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

If we can break 238.5 then there is a good chance all of my short entries will be in positive territory soon, however, I think the trading day is over seeing the US is on holiday.

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

Wow, I can hold trades in both directions. Look, buy and sells on the same chart. That's new (to me)! Anyway, that scalp worked out nicely. About 40 pips in the bag.

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

I'm still playing around with this new MT4 account I have. I assume I can hold trades in both directions so I might see if I can get a long scalp around 238.50 for about 50 pips.

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

238.50 will be the key area to break.

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

Yeah, I might have a look at the code one day and see if I can tweak it. If it's too much effort then I'll just leave it.

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

The B point is most important for all harmonics and needs to be very close (almost to the pip). In a butterfly, it is 78.6 so that pattern above has it at 94. Not really sure what it represents. I have my doubts about that ZUP indicator. Maybe it ...

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

Hi Karmo I can't really see any although there is kind of an invalidated one. Can you point it out?

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

There are some clear reversal patterns on lower timeframes so not a lot of weight for now but lets wait and see.

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

Still in mine. I will close my lower entries if we exceed the high though. My EJ short is just about to come back into profit again.

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

I think we could be topping from 239.45 to 239.70. If it goes higher than that I will start to close my entries gradually for a loss and just leave the market until I get a high probability trade come up (on a larger TF). Last chance reversal will ...

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

That's coming from the ZUP indicator right? Islander posted something similar on the Daily GBP/JPY thread. My butterfly has the B point at 78.6 and being the most important point, I like it to be pretty much on the pip. That pattern has a B point at ...

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