Currently approaching 1.2566ish s/r line. Looking for the breakthrough ... but I may be wrong. It may just bounce

EURUSD

Looks like there is a slow uptrend in progress. I see the up trend either bouncing off 1.2566 or breaking that s/r line.

EURUSD

4hr chart is in a retract. Hopefully the market will move up far enough for a decent short.

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

Really appreciate it Q. Thanks for keeping me out of trouble this morning.

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

I think so too. GBP has Retail Sale figures during London session. But I think g/j will move based on the anticipation of the outcome of Retail Sales figures, hours before figures are released.

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

142.70ish But I could be wrong

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

Quecee ... you called it!

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

Looks like a decent retract is upon us. Should help with trading lower lows

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

Yeah thats what I am afraid of. 100 pips s/l is usually as much as Im willing to take. If it bounce I'll just get stop-out and place a "anti-hedge" trade. Or Trade the next line (which I think is 141.70). Wait for the break lower, place a sell and ...

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

If this down trend can break 139.00 ... it just may be a 1000 pips short. Like someone said, it may happen within a session or two. Daily & 4hr show plenty of room to move. I'm looking to short after the break of 139.00 (138.00)

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

here here

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

Me too! It took me a while to figure out, 'not to enter a trade until a full candle is presented'. Lost too many pips trading an actual candlestick formation just for the next candle to show up but end up down. Lesson Learned

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

P/A will play down in a channel for a few hundred pips. I don't have an exact/range price. I do see an up trend happening if the channel breaks towards the next upward fib line Due to no momentum ... it may sprial in an downward channel for awhile ...

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

A very great way to look at the market! Bravo! Well said sir.

Why is the market behaving like this?

Spread is too high for me to scalp g/j. I've been scalping e/u and averaging 10 pips here and there

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

I think the down trend is temp. Fib level starts at 38.2 on 4hr chart. Using 1hr chart for entry, there is a big bull that needs to run north. When will this happen ... who know. Current temp dip, I think, is just retract. Hope I'm right and if I am ...

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

Oh .. thats good times

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

LMAO

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

Looks like the bears are looking to get in.

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

So true. Luck can play a very important part in a trades strategy. It can also punish you. I'll be the first to admit, I've had a few lucky break. I always ways say, "Its better to have a plan and stick with it. Quit while you're ahead. Barring any ...

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