15M pinbar playing out. We may see a pull back to the 5M 50ema.

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

Surprisingly very good retail sales number. This could be interesting. Got in long at 1.36 tp 1.38.

Cable Update (GBPUSD)

A good place to short "scalp" would be at around 125.60. I see a lot of resistances here, 4H gann, 1H 50ema and 38.2 fib level. This retrace could become full reversal next week. 100% fib level at 135.82 is well within reach. A close above 4H gann ...

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

A 400-pip hourly red candle followed 3 hours later by a 300-pip green candle. This is extreme trading. Now the daily will probably close as a very bullish pinbar. Next targets are the 50% fib and 61.8% fib assuming 1H 50ema will be broken. ...

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

That was the 23.6% fib retracement, a nice 400 pips bounce from the bottom. Now let's see if this will turn into a 50% retrace. GU has broken the 15M 50ema.

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

If today's candle closes at around 123, then we would have a very nice daily pinbar. This drop was about a 1600 pips drop which started at 135.82. I think GJ is overdue for a fib retrace, possibly up to the 1H 50ema.

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

GU is at very strong support at 1.39. I don't think UJ will break its support either. This may put an end to the this bear run for GJ. I think we will bounce to a fib and consolidate for now.

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

What a bounce off of the daily trendline. Close to 200 pips 15M candle.

Cable Update (GBPUSD)

Daily trendline at around 1.42. Anyone thinking of going long here?

Cable Update (GBPUSD)

That last hourly candle closed above 131.30. Somebody calls houston cause we're about to have liftoff.

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

Obama's Inauguration next Monday — Obama will be president starting next Monday. Since it seems the world loves him (not sure about traders), there's a good chance there might be a nice rally from now until then.

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

But then again I don't want this consolidation to end. I'd like to see it drops from 131 back down to 129 again so I can long again and make some serious easy money.

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

This is really easy picking if it keeps going down to 129 then bounces again. Nothing lasts forever but I'm going to enjoy the pips while it lasts. I don't expect 129 to be broken any time soon. Maybe in a few weeks according to GJ's behavior back ...

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

If this hourly candle closes above 131.30, then it's bye bye 129. The 4H candle would most likely closed above the gann and we might see another nice upward move. Another 1000 pips anyone?

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

129.32 is one of the strongest supports. It is literally the bottom in GJ. Last time GJ visited this area (129.83 on the last day of 2008), it bounced about 1100 pips up to the 141 area. Looking at the 4H chart, if price repeats the same pattern as ...

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

Price has broken through the 15M 50ema and is staying above it. There's a high probability it will go to the 1H 50ema next. I would short at the 1H 50ema or if price closes back below the 15M 50ema. Karmo uses interbankfx MT4. I suggest everyone ...

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

That's why you trade your own chart. My interbankfx MT4 has a low of 129.32, which we did get an hour close below. Then 129.32 became resistance mometarily for about a few 15M candles, then it gives. Normally in a strong bearish market, price ...

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

Typical GJ...it makes a new low then bounces just like many times before. I closed my long at the 15M 50ema. Waiting to possibly short at the 1H 50ema. I trade like the pros. Buy low sell high.

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

I took a long at 129.02 with 50 pips SL. Good thing about bottom picking is that I can use tight SL.

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

Do you think we will retrace during Asia again? I'm itching to buy here sub 129 looking for the 15M 50ema. It seems Asia almost always retrace the move from US (I would say a high percentage). Your observation is very correct about this.

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