M2B...(or anyone)... I just wondered what your system's longer-term charts suggest about GU? Two weeks ago, one of my more 'weird' charts, which I seldom use, was giving me a similar signal for GU to that which I told you about last Friday for GJ - ...

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

Thanks a lot, B2B.

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

Sorry - I meant the value of the bottom of the channel

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

Brilliant, B2B - thanks a lot! What is the value of the channel, currently?

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

Is there anything significant about our present level from a fib point of view, anyone?

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

Yes, very interesting. Saxobank was saying something earlier today about some absolutely gigantic similar tab that someone's got to pick up next Monday... and they were saying it was very difficult to see who's going to pick it up.

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

I'm certainly not. If it retraces, then fine: I'll sell again.

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

I have to say that I find GU looking so bearish (despite the oversold signals all over the place) reassuring for GJ's decline.

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

Thanks, Zoheir! (I'm trying to be a good boy and take interim profits like a sensible person, for once - instead of holding out for the end objective).

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

M2B, you're hot on those fib things that I don't understand.... what do you think about a retracement?

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

yes, 234.01... but as I say, I wouldn't take too much notice, cos I'm lousy at retracement.

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

Yes - on my system (saxobank) as well.

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

I'm going to take my first little bit of profit here - but retaining most of the short from.. well, from last Friday's spike.

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

I have to say the 4 hours look even more scary (re retracement possibility) than they did 100 pips ago.

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

sorry - 234.01

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

(This is just as a passing comment - I am useless at placing retracement levels).. but on my 'system', there is potential for a bounce of some kind at 243.01.

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

A few days ago, I posted a link to an article in the media about Japanese housewives(!) having been a major cause of carry trades rising - regarding borrowing NZD (particularly) and selling JPY as a surefire money-maker.. thereby driving NZD up and ...

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

Nothing wrong with it at all. I was saying that it makes a lot of sense. Having said that, in view of my believe that both GU and UJ are extremely bearish, I am at the moment a little doubtful of the potential for a massive retracement after that ...

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

Gosh, that's not a TP, except on my 3 month option - for a while, at least! As I said, I think it is extremely difficult (for me, at least) to find the correct TPs. There is unquestionable major support where your TP is: if we were to emulate July ...

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

In fact, I'm not so sure about that... I just found a major support very, very close to your TP - in a pattern on weekly that occurred on the previous massive GJ drop in July 98.

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