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

You had better watch closely because that does look like a pin bar forming on the 1H GJ chart.

Jumping in with some shorts here at 135.70... even though it's Friday, looks too juicy!

may be - 140???

Don't Forget to add a 5,3,3, Stochastic to the Auslanco's indicator Suit .
When you posted the above post with a target of 133.4, The 4hr stochastic was already on oversold and the price was at a strong support area. In such a scenario a strong reversal or a bounce is inevitable.

is there an indication of a reversal somewhere?

short heading into the weekend? You must have had a good week?

Pin bar, schmin bar.

It's only valid once the candle closes and the next one confirms it.
EDIT: Took some off the table and moved stops to b/e +2.

I used to have that 5,3,3, Stochastic on my AUS chart but it was missing thanks for pointing that out.

I sold a bunch of longs but I am still holding a few as guppy looks still strong to the top side.

Haven't been posting for a week now, being on vacation and trying to minimize disruption to the family, but have been partially lurking and trying to find entries, but frankly not having much of a stomach for it. It's been a tough trading week, and, looking back over it, many majors moves have been indeterminate. BTW, great calls by naatha, UKDayTrader, wormboy and others on targets & bottoms. BTW even Gucc/Strippoker's 137.2 short would have netted 300 pips.

It's been a tough haul this week, with stagnation and conflicting moves on many key pairs. Although I was up this Friday pre-morning NY session start to see UJ bottom, not having the right mindframe (not up long enough & awake) prevented me from taking a long trade. Kudos to any who did, esp. on GJ, being at least 160 pips up from there; VSA showed buyers and lack of further sellers a few bars after that.

I can't say I have a convincing bias on GJ & GU yet. UJ appears to have bottomed, although 85.8 wasn't touched, and formal support is further down at 85.5/85.45 - given the determined trend and bad news I don't think we're done there yet, and so that will be part of our August guessing game before Sept/Oct flies us in some direction.

The GY shortterm moves have been graviness if you plot your fibs right, offering little risk for high reward. Check the (white) chart confluences - this morning's bounce was also solid off of the 200day EMA. Stochs & bollinger are also great H4 indicators of bottoms forming in GJ. That H4 bar has another 2hrs to go on (London time), and given where it's landed on fibs, we may be done with up moves, although 135.7 DPP is holding well so far & GU is still acting strong. It's hard to set call the mid-term trend for GJ - if anything, bullishness may win out. GJ continues to be driven by the S&P and we're at a crossroads there too so directional predictability is low IMO. GU has been easier trading, with the persistent march higher - 1.57 has been a surprise and I think we're due a retrace, lower than the last 1.55 visit.

With London closing around now (11:30est) it's interesting to see profit taking isn't creating downside in most key pairs, given it's month end too - might be a sign of further highs next week and month before any lower levels testing. Will have to see what NY does towards day's end, but there's been another shrug off of bad news, perhaps based on lows having already occurred and with the lack of the news being abysmal, we rush back up.

EDIT: Chart and GU showing phenomenal strength and direction, isn't it? And that current H4 140+ pip bar is one of the strongest, if nothing else, telling of further highs coming based on past history. Frankly, I don't get it, and sterling's not deserving of it, but my/our bias is irrelevant.

I was wishing this set up happened 4 hrs ago ... bailing @ 135 to leave room for the 4H to do its thing.

Moved SL to BE and TP @135.15 ... Hav a great weekend, and thank you all for the help and advice.

http://www.forexfactory.com/showpost...stcount=241657

look like still valid this view when i take a look in my daily n monthly...just need this week close above 135.60 for my final destination...

i will post my view this weekend,perhaps after monitor this last movement for this week...see ya

g

Yes, G. Going be a new month for Monday, today close will help to see where she goes . Enjoy your weekend.
Raza, hope Monday your server is up back. Going to ride same direction with you soon Cheers...

Following my forex news trading method went long after US news at 135.50 and exited at an even number 135.90.

a chart for bears - just a possibility.

end of month, let's see where we are.

long term trend is still down, descending yearly trend line was not broken yet but it is in process of being tested. on my charts, it sits at 138.04 (monthly) but on lower timeframes it appears as an area between 139.55 and 137.08 - the real value depends on the moment when price will test this line (the sooner, the higher).
this setup brings a great opportunity as we are near major resistance. i will watch for shorting opportunities from anywhere between 138 and 139.55.
the other side of the story is that a convincing break of this area will bring the beginning of a bull rally.

moving on to weekly chart, same story but in greater detail. inside descending long term there is an ascending correcting rally from the low of the year - see purple line labeled "intra-year". for a confirmed resumption of the long term downtrend, it's this line that has to be broken.

and now let's go to daily. price is approximately in the middle of the ascending channel, which means that it is a bad time to open trades. mid line (3M, 134.25 area) offered support, and since it's an old line i expect to carry some significance. a bounce to 136.80 area might be possible; maybe another test of 134.50/20, because that's where multi-month ascending trendline is (3M. light green).

my trades for next week:
- tentative short from upper 136, with stops above 137.55; target 134.50.
- maybe long again from 134.50 with stops below 134.15, target 137.05/139.55.
- or short from 134.15 : this one might be the next long term trade...

it was mention last week about the 15 trading days deal of level 130? anyone want to have a challenge ?

137.40 was time and agian mention here over aND over .. and we struggle big time to get up to that level ,but finally we did reach it .. it took us over 3 weeks to even get upto 137.40 ,but we did ...

ARE WE GONNA DIVE ? absolutely yes .. it was mention to grashid about the deal in Q4 of testing 118 ? looko out !!!

boys and girls,newbs and seniors , BUCKLE UP !! THE ELEPHANTS IS BUSY GETTING THEIR DIVING SUITS ON ,FILLING UP THE GASBOTTLES. YOU WILL SEE LATER SERIUOS DIVING IN MANY CROSSES!! TRUST ME ON THIS ONE!!

it wont happen right now ,more in Q4 sometime

here is one def support area where you will see aud/jpy in a few months
low 60's ..im sure you will see 60/62 later in Q4/Q1 ,,thats 2000 pips more to go !! where will we see gbp/jpy ---i guess 118's testing time and again,i dont see it will go lower . maybe we can !!

im still saying aud/jpy is the best bet on all of them,and will keep saying it ,until prven wrong..

btw---piter why did you do that for the 8th time in a row? you know what..

gbp/jpy -- my call weeks ago was 137.40 ,,then last week 136.60..oh well we topped at 137.40 and ,YOU WONT SEE AN HIGHER HIGH AGAIN UNTIL NEXT YEAR-!! 123.80--- !! and 118!! is the levels to watch out for!!

here is a chart i pulled up last week on aud/jpy .

not even to mention that i typed that in bollt

eur/jpy 114.50
gbp/jpy 136.60
cad/jpy 85.33
aud/jpy 79.57 (only one that was missed with 10 pips) bugger!!!

Oh my God, another Guc I have to put on "ignore"

My idea for the coming week / month:
GJ will go UP !!!
But we'll see.
I wish everyone a happy trading week.

hello mate....i think tomorrow it should going up from now n may drag GY n EY as well n also uj,,maybe im wrong but i look at my chart & my analysis it still in bullish mode,audjpy should be at price 81xx or 82xx...but in the market,anything can be happen....btw lets see tomorrow

You will be proven wrong my friend. GJ wouldn't go anywhere until it reaches 139 .