after a butterfly completion--it usually signifies a retracement to wherever basically--obvioously to support levels---but the signification of butterfly setup is that it will retrce after that setup ive drawn a trend line in the last pic on 15min ...

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

just noticed 1hr has crossed down--qqe ps--butterfly retracement has occured

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

as posted earlier pic of candles formation on 1hr--bearish engulfing afetr 2doji/spinning top---entry atthat time was retrcement to 5sma on 30 min now lookin for another setup--looks like consolidation has started

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

just came back from some shopping and the short was closed at 234--sweet profit while shopping !! back to analyse what the charts are saying

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

yes on fxdd but ive got a platform whic closes 1hr later (on 4 hr tf) and its got 1oosma at diff price level--- thats why i mentioned that in diff demo platform--etc

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

short from 234.91--3omin 5 sma bounce

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

nah buddy--closing just at 100sma is very unconclusive--it should range from now as i see there are both bear/bulll signs on my chart--im gonna wait and see and in btw just scalp

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

i cannot believe this---ive been tellin u guys ive been waiting for a close above/below 100sma to see where price action is headed--and the bloddy thing closed 2 pips above it (not conclusive)---we should have a tight range now till NY scalp if u ...

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

my other mt4 platform demo has 4hr candle cosing in 4 min and guess where the 100sma is?? right at 234.50---bugger!

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

i meant to post on the chart: on 1hr--possible last candle being bearish engulfing--especially after 2 doji/spinning tops -- strong bearish pattern wiat for the 1 hr to see where it closes

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

thius is a crucial area-- 234.30 decisive brk below this we could see it heading below 234

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

ok another leg down complete--out at 234.38 waiting again on the sidelines

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

ok we should see further drop

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

richard --anything is possible buddy the best thing to do is trade what your charts show u right niow overall is still bullish apart from 5,15 min tf bearish--30 min could turn bearish as welland then we could have a movemnet down to 233.84/234 this ...

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

perfect

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

ps--ive got Monthly Support 2 at 235.77--might got ill there b4 we see any retrcement

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

mornin ya'all another week with g to the j bank holiday in UK im waitin for this 4 hr candle to close--for the time being the tgt at 50% daily fib has been met and the butterfly setup is complete---now we wait to see what it brings us looks bullish ...

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

wow--nice one Aus we have a very powerful thread going on in here with the ultimate thanks to AUslanco-- crown lager cheers !! input from various people in here makes this the thread to be for trading the gbp/jpy Aus--thanks once again for your ...

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

Zoran-- please read above what i have posted to Karmo's reply basically--i agree to what u say---but i do what my charts say right now everything is bullish so im a bull man ( although i have already exited my postion for the weekend just below the ...

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

bro-- google "butterfly pattern charting" and it will take u to pages u can learn about it i think thats the best way

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