Auslanco - GBP/JPY and GBP/USD (newstrade)
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Karmo,
Gd luck today on your finals bro!
heh,
Are you trading GJ from the long side or the short side? Do you see a pull back if so what levels?
Just curious. . .
Just kidding. 
Guys,
Somebody Pl tell me where GJ is heading now.
Some times it takes cue from Dow, some times it does'nt.
It is not obeying any Chart set up. It makes me restless.
if you are that itchy to trade open a demo and let it fly or you might chase a trade (just giving some advice from experience). or you could wait for a breakout to either direction and trade live. or if you are a good scalper........well you get the point
a pinbar just formed on the 1hr chart:
Nice look DaddyWarBuck. I take it that white line on your chart is a trendline as well. With that turned into resistance now, I would look for a test and a failure first before we actually move upwards. In other words, a few more hours of range.
a pinbar just formed on the 1hr chart:
Nice stuff. That will most likely make the 4 hour close as a pin or overall bullish bar as well. After that happens, more buyers will come into effect because most of the bigger players look to higher timeframes than hourlies. Even just that step up to the 4 hour chart will create a surge in buying interest.
Ok, I've read everything in this thread that pertains to the most recent move up. While there are varying opinons as to how GJ will get there...almost all agree we will visit the 231-232 area within a short time. There are a lot of reasons to like that area, not the least of which is the 50% Fib on the daily @ 231.30. I to think this area will be tested, and I am calling 231.30-233 the 'drop zone' from where we will head back to the 220-222 area (maybe lower)...but I don't think we will see that drop until after Christmas/New year. My question is this: can anyone give a compelling reason we would not see the 231-233 area? Most agree on this, and that frightens me a little. I would like to hear from others who think we will not see that area...if there are any! Just like to keep some healthy perspective.
It's certainly not guaranteed to hit the 'drop zone' where the 50 fib resides at 231.30, it just fits into the pattern.
Here's my outlook for today:
Three black crows on daily chart. This suggests to me that there is a high probability that we could see further moves down today in GBPJPY.
On the 4H, price still seems to be gravitating toward the red pitchfork median line, possibly heading to the lower trendline of the sky blue triangle. A close below the pitchfork would confirm shorts, the higher level of the pitchfork is also offering resistance, closes above this would confirm a change in short term trend to the upside.
Overall it looks quite bearish but this could change in an instant with this pair, the current climate and the reduced volumes at this time of year. Most likely the profitable strategy will be scalping between these S+R levels with reduced position size.
