Thanks Orion. Another day of observing the PA around these levels. Again, they performed quite well, often situated around areas of reversal or where price found support or resistance. As a visual comparison I have included a chart of the same time ...

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

I'm not suggesting that it is your only reason but expecting to hit the 220's based upon the absence of a significant retrace is flimsy at best. The PA following BoE interest rate decision was quite revealing. Although it was expected, a number of ...

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

Candlestick patterns are just representations of historical data that can be interpreted to attempt to forecast where price might be headed in the future. Not really a leading indicator but it is more 'in the present' than others like MA's and ...

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

Hey Doughboi, how's your Dad? Got to agree with the young man on this one, this is no time to be long unless you're seeing something that I'm not. In which case, enlighten me. Otherwise just go with the flow and watch your account grow!

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

Looked at the Gann projections today, and was quite impressed with the PA around them. Obviously one day is not a large enough sample to establish just how useful they are and I'm not sure of the best way to use them profitably. Scalping looks like ...

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

Hmm, it's counter intuitive but I see what you're saying. So you'll be shorting whatever then? I still think if there is no cut, which it should be noted Vinesh seems to be the consensus amongst commentators, there will a surge in demand for GBP due ...

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

Thanks for your setting Arezab, just had a quick glance and they look to be close to the optimum settings for that TF. As you said - great for scalping. I forgot to include the T3 Trix signals:

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

Cheers pal, hope you had a good one too. I don't know very much about the T3 Trix indicator, I hadn't looked at a GBPCHF chart for ages and this was what was on it. I seem to remember it being useful for cutting out whipsaws and was for confirmation ...

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

An optimistic view. I think it must be a typo, it's actually spelt R E C E S S I O N.

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

Wait before entry on this one. Historic support and showing signs of reversal.

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

If there is 1) no differential between interest rates then there is no interest swap, and 2) if BoJ eventually 'normalize' their interest rate with the rest of the world then there is no cheap money to borrow to invest in equities, ergo the Yen ...

Aussie Pairs

It's certainly not for me to criticise your style but can you see the wood for the trees? I've collected many indicators, some with no discernible use whatsover - they didn't improve my profitability that's for sure. The Skunny thread (and the fact ...

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

Wow, there's an indicator you don't use?!

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

Nice one, I shall keep an eye on these levels and see how PA reacts to these areas throughout the day.

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

Interesting point Vinesh, and as it turns out there may be some truth in your assertion. AUDJPY is the Yen carry pair with the closest correlation to GBPJPY according to this correlation calculator: url with a score of 86/87 (>80=positive ...

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

Intriguing.... do you work them out personally, pull from a website or have an indicator that generates them automatically? I'd appreciate it if you could post them daily, and even review how close price came to these levels the day before.

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

What are these based upon and just how effective are they?

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

Yeah, why not!

forex news?

trade the news .com is pretty good for breaking news, rumours etc. Worth a look. I think there are paid services as well but I do not subscribe to them.

forex news?

Long or short it makes no difference to me, as long as it's not sideways! GBPUSD is moving down and USDJPY is rallying, cancelling eachother out on GBPJPY. A retrace does appear likely for GBPJPY, after a 4.4% drop last week and certain fib ...

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