GBP/JPY Trendline Traders

Whilst the trend is clearly up, yesterdays lower high may point to a pull back - however there's the FOMC meeting tomorrow and NFP on Friday, so it will be interesting to see what this chart looks like next Tuesday.

Short Confirmation Received 204.63

GJ rejected 207.95 once again.

Great work man!

thanks, i found that GJ does respect monthly fib lines rather fiercely.

i am yet to see it respecting any other fib pattern so much.

Be prepared for a GJ trend back to weekly pivot 206.12

Awaiting confirmation of this trade, which should come sometime during Tokyo session or after that.

After this sharp spike move a small retrace is expected.

We experienced maximum trading volume on a 1 min chart at 206.07 earlier.

38% retrace, which is usual for the beast, will take us to 205 area.

Decade fib:
38.2 = 197.7
50 = 184.8
61.8 = 171.7

Beast

Good job brother, you rock !!

Ok, I am on a vacation now, this beast is simply too predictable, i was expecting the move around tokyo open, not so fast.

tough resistance at 205.01, closed out.

time to sleep now.

Not sure as yet, but this GJ daily chart is suggestive of 202 area

Can anyone confirm ?

Trendlines, huh?

Just signed up today. Have been following auslanco; but found the good mornings etc a bit tedious. Lots of great stuff though when you sift through. So this is my first post you (un)lucky people. If I have contravened any by-laws below, I apologise and will gracefully exit and observe from the sidelines.

I'm inexperienced; so bear that in mind as you review. I've been observing the beast after some success on EURUSD. Today decided to catch it by the tail in a "hedge". Now searching for validation after (or is that during) the fact; so it was good stumbling on your thread.

The supercycle in the previous posts shows an up-trend; but zoom in on the recent trend since last November (see attached): DOWN. We recently had a break outside the tramlines (drawn crudely with some poetic licence)and above the 50-day.

I'm not sure about the EW counts; but the opinions everywhere appear to be: up; no, down; no up!!! So I went both ways AND especially before the FOMC. No stops; just 24pip spreads; and hoping for a big swing (600pips) in one direction and a whipsaw back. I'm not expecting a complete reversal just a normal retracement. Exits will be based on simple signals (from RSI on daily and 50 and 200 aves). Timeframe is 4 to 6 weeks.

My reasoning is the swings this beast achieves. Stairs up elevator down with big pips and in a short (monthly) timeframe. Sorry for the crude illustration in the attached; but they show mouthwatering volatility

My hope: big drop back to mid 190's based on bearish USDJPY commentaries etc elsewhere. Then resumed EW up-leg within the supercycle. Plan B: wait for it to hit Fibs near 211 and bail.

Wish me luck; I'll keep you posted from time to time and more succinctly too.

Check out the videos of spreads comparison. Wow. I was paying 6-7 pips to trade GBPJPY plus commissions! Now I'm on integral with 3 pips and way more liquidity.
I would not be selling equities right now. It appears there is a major rumor or leak out.

Image: we have an ABC played out so I'm drawing the trendline and I'll take a close below short. I will prefer UJ or EJ while GJ is so strong in comparison.

We did in fact go short UJ on the break of this 15min trendline. GJ is still too strong to take shorts. I'll be out from now until FOMC.

Is Integral also acting as a broker or does their software just combine pricing from the different feeds you have with your existing brokers? Thanks.

Integral is like Currenex. They aggregate banks on their platform and show prices. Apparently they have much better agreements with banks as their pricing and liquidity is better than MBTrading or any Currenex I've seen. I've heard IB is tighter and same liquidity however.

Does anyone have a skype group that watches EJ GJ UJ UCHF EURGBP GBPCHF for trendlines just like this thread? I'm trying to put together a real time group that only converses on this topic. No chatting allowed. Only trade setups. My experience has been this style is very effective and low stress if you catch each entry on time. I have some videos on my blog about how we trade which is definately the same as this thread. There are two of us in a skype chat all day and we would like to add a few more professional traders to catch these moves. I prefer to confirm all td lines with two pairs.

The thread goes offtrack just where i leave it.

lease post your views on this thread, no external chat rooms.

GU 1H and 4H rising trend
EU 4H
EJ 4H

New Signal received at 3 GMT

1 hour uptrend