Statistical Probability Trading With Price Action

The white numbers show monthly fib levels, yellow numbers weekly fib and green numbers are daily fib levels. Fib levels are based on highs and lows of previous month, week, and day. The green numbers are the resistance levels, red numbers are support levels and turquoise numbers are pivot points based on previous days high, low, and close. The arrows are 3am eastern and 10am eastern time of the previous day.

Quote from Fxcm [02:30 GBP/JPY: Consolidating Gains Above 240 Overnight, Offers Still] Tokyo, May 23. GBP/JPY looks to be consolidating gains above 240.00 seen overnight. Early Asian trading saw the cross trade up marginally higher to the 240.25-30 level before backing off. Data from Quick Global Information yesterday showing alarge decrease in Japanese margin player GBP/JPY longs as of Monday looks to have helped the market higher. A fall in longs suggests short-term players can more easily buy anew. Expectations of more BoE interest rate hikes are also helping to keep GBP in demand. A more clear picture of BoE intentions will be garnered tonight when the MPC minutes for the May 9-10 meeting are released. Themarket is eyeing an 8-1 vote for no change in policy against a 2-7 vote at the previous meeting against a hike. GBP/JPY continues to see considerable headwind on move higher from profit-takers. That said, technicals suggest a test of the 241.50 or so highs seen on January 23-24. Key supports below are eyed at 238.36 and 237.74, the Ichimoku tenkan and kijun lines, respectively. GBP/JPY is currently indicated at 240.17/27. --Haruya.ida@thomson.com
[IFR Forex Watch]
[SQUAWK BOX]

Hey, I ain't knockin' it and please believe me...
But
White {Monthly} support Broken
Yellow {Weekly} Support Broken.
Green {Daily} Holding [so far]
MA {whatever it is}Holding so far.

What do you do NOW?
May 22nd @ 23:00.00

I wait until 4:30 am news release.

I wait until 4:30 am news release

The WAR for the past
5 weeks is 221 pips
10 weeks is 240 pips
20 weeks is 267 pips
55 weeks is 304

Another look at the gbpusd from the daily.

Thanks again for the hard won info.
Really now, how much can your brain bench press?

Green numbers are daily Resistance levels from previous days high, low and close. Yellow numbers are fib expansions from previous days high and low. White numbers are fib levels from today's high and low. The 23. 6 fib level is holding steady support.

The past weekly High Low range for the GbpUsd since the 2.0132 high April 18 for the weeks of

4/15/07 was 270 pips
4/22/07 was 197 pips
4/29/07 was 230 pips
5/06/07 was 237 pips
5/13/07 was 173 pips
this week to date is 218 pips
Notice on the chart the mid week high with retracement. How much will the interest rate statement keep it up.

The past 72 weeks since Jan 1 2006 the GbpUsd has retrace to the weekly
23.6 fib level 70 times (97%)
38.2 fib level 65 times (90%)
50.0 fib level 58 times (81%)
61.8 fib leve 50 times (69%)

Correction on the chart for previous post. I forgot the arrow for the high of week 4/23

EurJpy threatening to break out of the 25 pip range of the day

News for the eur at 4am

GbpJpy still staying in the daily range of motion news at 4:30am

EurJpy is in a 50 pip range. It normally ranges around 35 to 50 pips before a break/

GbpJpy is in a 40 pip range it normally breaks around 50 to 70 pips. Its daily range is been lowere the last few weeks so it may break sooner . News still coming out

2007 5 Daily Daily Range For GbpJpy is 120 Pips
2007 10 Day Daily Range For GbpJpy is 141 pips
2007 20 Day Daily Range For GbpJpy is 139 pips
2007 55 Day Daily Range For GbpJpy is 191pips
Daily Range For GbpJpy for all of 2007 is 202 pips
Daily Range For Gbp Jpy for this time in 2006 161 pips
Daily Range For GbpJpy for all of 2006 was 142

supports and resistance with pivot point

Price Action Above upper trend lines

CHF news announcement in minutes

UsdChf