Yeehaw. — Just taken a small cowboy short at 147.19. Will cut quick if i'm wrong.... I would not advise this. EDIT: Closed at +25. Cannot be sure if we continue down or bounce off support.

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

50 fibo? — Any reason why you wouldn't include the 50% fibo at 143.50 ish.?

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

Hmmm — But isn's the idea of distribution that large amounts of 'stock' are sold into the market in smaller units thus hiding the motive to sell high? If they were still bullish, wouldn't they just sell a large chunk and then buy more at the ...

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

Distribution..? — On 5m TF, anyone have a view on whether there is distribution going on.? Last 40 mins seems higher vol pushing price lower and then very low volume pushing it straight back up.

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

This made my cry with laughter.

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

While it's quiet.... — .... I wouldn't normally do this but this is a bit special. www.youtube.com/watch?v=9lp0IWv8QZY (not trading related).

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

???? — I cannot read GY right now. It almost seems like 'someone' is deliberately playing flip flop with it. Flip a coin and we see 155 or 142. Hmmm. Whenever I feel like this, I normally stay out and that's what I'll do until I see some ...

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

Nah, it's OK. — OR learn to hedge the proper way using other correlated instruments. OR use Oanda where sub accounts can be created for pure hedge capability. OR learn how to use synthetics.

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

Yep — I'll join you on that one. I have longs still in play, but my bias is bearish now. Need to break 146 obviously, but if it does, Piters south gate beckons.

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

Dangerous — Not the best idea considering GY has declined 200 pips in no time at all. Yes, we're at the 50 fibo from the last upmove but it's not unbreakable. Just by looking at the charts, there are no long signals right now, only speculative ...

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

Different brokers..? — Mine was flip flopping between bearish and bullish. Now bullish. CPI data was bad, but not having a major impact. Looks to me like ES and Dow will open lower, but recover as the session unfolds.

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

Flip flop — 4hr Gann wants to flip to bullish and QQE about to cross. No shorts from here I think. Small long added....

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

Agree — Very strange PA this morning. 200 pips in no time at all.

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

Next Leg.... — Looks like next leg down now. I'm short from 147.19 if we get there.

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

Watch ES — Here's where watching ES and YM is very useful and may provide an early indication of GY and UY direction. ES has steadied as has Dow. Shorting GY blind now is a risk IMO. But if ES hits the next leg down, we could see GY and UY ...

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

No — Posting opinion with some analysis is a good thing. What pisses people off are the amount of predictions posted with absolute certainty. (And the ensuing dick swinging contests which follow). Nothing is certain in this game and we are all ...

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

lol. — You're funny. Been missing all day and now you turn up. lol You do realise this drop is news driven don't you.? It may be the start of a more sustained drop, but to predict 118 again at this stage is laughable.

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

Retail Sales and PPI — Both reports worse than forecast. Price should bounce back I think.

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

You betcha — Believe me, 160 is not even the half of it. I had longs from 243 when GY was tanking at 170. I learned hedging the hard way. Nothing beats this kind of experience. I'm a better trader for it that's for sure.

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

Various entries.... — I have a number of long entries depending on the PA at the time. I do quite a lot of hedging which is not for the feint hearted, so I have some longs from above 160, but i've been averaging in quite successfully. ...

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