Any change in this view now that the 5min has closed above the 50ma?

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

I've always preferred EMA over SMA, but anyway... check out the 50ema on a 4 hour. We're sitting right on it and weren't able to close below it it.

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

Apparently he's so good his broker pays him his 30 pip stop loss if he makes his target too... only way he can get 200 pips out of what his claimed TP and SL are, otherwise it's 170.

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

I'm no math wiz (just have a minor not a major), but how can your reward be 200 pips when the difference between your target an SL is 200?? Now that's voodoo!

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

Hey Kev, honestly not sure what EXACTLY constitutes a "no demand" bar, but I see them when you say it and know it that way. Can we have one developing here on the 1 hour?

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

I see repeated failure at the 50% fib retracement of the fall from 141.50 area. Not really sure how this represents a bullish bias, but what do I know. The 1 hour is definitely over-bought, I'll agree with you there. Once it turns down I'll assume ...

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

Agreed... I took 137.80 and .85 for shorts

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

Oh I think she'll come down too... just patiently waiting to see if the move is for real.

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

I agree the correlation has been out of whack, but we knew it was coming. With all the bad news from Japan, it was a perfect excuse for a large retracement in USD/JPY and other crosses. It's only a matter of time before this is just chalked up as ...

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

Seems like several people wanting GBP/JPY to break up, but price action is extremely unconvincing. How many shots have we taken at this 138.40/50 range in the last few hours? Each one becomes less and less exciting. The 1 hour is overbought and just ...

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

The USD is getting hit right now because AUS didn't cut rates and decided to leave them at 3.25%. So right now, GBP/JPY is being pulled up by GBP/USD's run up against the USD. This really shouldn't affect the overall trend in GBP/JPY and is most ...

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

LOL... love it!

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

Thanks Malcolmb, I try and keep it real and I'm not hiding anything. Thanks for sticking up for the link as I hope to make it a great resource.

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

Just gave another sale at 136.55... TIMMMMBERRRRR

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

Awesome book, I think I've read it a couple times a year for the last 4 years or so.

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

Simply consolidation here right now. Equities aren't getting off their lows at all and USD/JPY is stagnant. GBP/USD is pushing up to consolidate before the next leg down so it's just a waiting game now...

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

Alright, just got some more shorts at 136.58 (kinda random number I know, but that's where I put my limit =)

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

I was thinking more around 136.50 to 136.65... looking for the higher end, but I'm watching the 5min for signs of entry. Probably be my last shorts put on until 135.00 target where I plan unloading most everything and watching what happens there.

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

Probably more analysis on the G/U thread... I'd start there.

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

Right there with ya Q. We've been playing this the same way since last Friday. I've been adding on basically every little rally.

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