Sorry, I need to correct myself here. It's the butterfly that has the B point at 78.6. The garley is at 61.8.

Daily GBP/JPY analysis

Yes, low volume with Japan on holiday also. Besides, it's my wife's birthday so the market mustn't upset her. Almost bed time here so I shall see you all soon.

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

It's Sunday... the bears are still sleeping while some bulls jumped over the wall. They need to keep quiet in case they make too much noise. So keep it down.... Shhhhhhh.

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

Yes, I was scaling in fairly early with small entries (starting at 237.80). Top entry was (238.80). This is my live (and fairly new) MT4 account and it works differently to my other live account. Trades are individual so I have to close them out ...

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

Of course. My reversal/bounce point is 238.80 (where we are now). There should be more resistance at 239.20 if price manages to get there.

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

Glad I could help out. Just remember that I use harmonics as confirmation only (not in isolation). The basics rule and my charts would look fairly plain so I like to spice them up with these patterns when they confirm.

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

Who's system is complex? Mine certainly isn't. In fact, my primary system is nothing more than the basics. I may use more advanced methods for confirmation but the basics rule. I will trade what my analysis tells me, plain and simple, accept the ...

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

Ok, I appreciate your explanation but it's over my head so I see things differently. I can't see this going beyond 239.20 before getting a nice retrace or possible reversal. Two charts attached. Focus on the sandy-brown boxes. On the daily (first ...

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

Yeah, my timing isn't very good - I need to work more on that! Summer got in the way so we were ranging for a while. Here is an explanation of my thoughts at the time. This post was made just before posting that chart. I was expecting a low in the ...

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

This is my longer-term thought if the support from 235 to 227 holds and the resistance from 239 to 244 fails. I can only see support breaking first if there is a panic of sorts coming up. We will attempt to retest the high and possibly fail at 247.5 ...

Daily GBP/JPY analysis

What do you think?

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

Maybe if you can explain your thoughts then I'll be enlightened. Anyway, your blue line only goes to 329.20 so it's insignificant in my eyes. My charts tell me we have strong resistance in this area plain and simple (238.80) - enough to make my ...

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

Can you please explain how a shoulder can be violated? Also, there is no head and shoulders on the weekly in the first place. I know you do things differently, but unless it completely forms and the neckline breaks then I will not trade it. To trade ...

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

Agreed... the fibonacci level on its own is not a strong indicator! Other types of confirmation and analysis would be needed.

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

An update on the two charts above. I believe we have now topped so are heading back down to the 235/234 region.

This weeks GBP/JPY Analysis & Predictions

And Now

Daily GBP/JPY analysis

Have a great weekend everyone. I'll leave you with an update of some charts I posted here earlier in the week.

Daily GBP/JPY analysis

I'm off also. Have a great weekend everyone. Market closed 10 pips below the 61.8 according to my chart.

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

What projection? Anyone waiting for the 61.8 line to be hit, it just happened. I prefer this one. It's the 4h instead of 1h but looks closer to the others.

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

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