Studying? Really? What are you studying?

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

Yes, I understand being long. This may spike into the 238 region and then I expect it to reverse. I have been saying that for a long time but in case anyone hasn't noticed, I think a big bank or something is selling to all the bulls just below 238. ...

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

The bulls are not giving up - just look at Geppy and PipChick. They are a determined lot! I did say my trade is based on time and not price... so being almost bedtime... I will also have to close my runner for a small profit.

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

Thanks markam. That looks more like a C wave. The B wave wanted the 61.8 level so maybe I should revisit EW? Pipchick, it wasn't me but markam who took your stop. Get him!!

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

BTW, your monthly 5sma is sitting mid 238 region. Isn't that going to be a hard nut to crack?

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

It's NFP tomorrow so there is a possibility. If resistance fails at 238 then the next level will be 244. See the sandy brown box in the chart, that is the resistance I'm looking at - it spans from 238 to 244 and it lines up nicely with fibs and lots ...

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

Come on markam.... don't make me look silly Now I know why I don't follow EW.

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

Yeah, I had my chance but my arms were just a bit short. Now it's markam's turn. In EW theory, I was the A wave and markam is the C wave so just wait for it

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

I didn't hear any announcements!

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

Here is daily chart. The purple box is the range that got in the way and currently sits as support. Now we are heading back up. My ideal short is somewhere in the 238 region - close to where the blue pattern completes. The smaller sandy/brown box is ...

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

This is a chart I posted here over a month ago. url url Summer got in the way and we started ranging but that's over. We are approaching the higher level of that chart (just before the big drop). The top is 238.80 but I'm not sure it will get ...

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

Many of us have been calling for a reasonably large fall in this thread, even Auslanco. It's just a matter of when and at what level.

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

For a mid-term trader, this level is good enough. My ideal short level is high 238 region but will it get there? I have my doubts - it seems someone with deep pockets is holding price away from 238.

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

This short probably has more to do with time than price. I will close at bed time Seriously though, ideal TP is 221 (yep, that's 1600 pips away) but if you want something closer to home, try 237.00 or 236.8.

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

Anyway, just looking at longer term charts across the board, I can see lots of bearish patterns emerging that are quite ripe - so beware and stand guard - especially if you are long!

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

Well, I did warn you. You should have seen it coming. Talk later!

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

So are we about to break out of one now (on the 15 min)? Sure it's only mini-me but you're the expert. Target should be min 30 pips from the NL - just enough to take your stop!

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

That's no shelf - that's markam! Can't you see his head and shoulders? He sits to the left of me. Can you see me? Z PS. markam doesn't like people standing on his shoulders so be careful.

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

OK, that's fine. I'm still coming to get your stop - but at least you'll get away with one pip. Others wont be so lucky! (markam is joining me)

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

Bid is the Sell price and Ask is the Buy price in forex terms. I'm not talking about stocks smarty. : I'm sure someone offers a 15 pip spread on Guppy?

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