This trip I'll be taking profits halfway and(and if) the targets are hit. I've traded daily timeframes most of my trading career. As far as dealing with it, that's easy. In a few hundred pips I move all stops to breakeven and that helps me sleep ...

Backing Trades Thru Charts

Agreed. I'm not looking at my charts, but I'd say it was being tested now.

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

Just playing devils advocate here: image

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

I know we're all about charts, but I thought I'd post my targets for my trades that I'm currently in. I figured since TLC is kind enough to let you know his trade results I might follow suit. You'll know when or if these levels get hit. It should at ...

Backing Trades Thru Charts

Scrats intra-month # @ 130.77 is giving way. Hello low 120's!

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

I'll take 1027 from there.

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

Why do you keep doing this to yourself? The trend is... wait for it.... down. You should change your signature to "Shall we shag now or shall I keep shagging myself."

EURUSD

I think we're going to get a buck 06 out of this baby before the end of the month. To skyzer, that's 1.0600

EURUSD

Next small stops along the trip south. Yesterdays low @ 131.09 and 130.83 (previous minor support). This is for you intraday traders. I'm looking well below those 2.

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

And that's the cycle of the market...although, I don't see much upside left in this puppy. It could hit 120 within a week (gasp!) or two. Look at when the violent market moves started in mid 2008. It's happened before.

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

How about now?

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

I'm a longer term trader for the next 2 weeks as we're launching a business, but nicely spotted. I'm just looking @ my 4 hour charts for the time being.

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

Not Yen specific: Trendlines, channels (I believe that one can make money in this market trading ONLY channel bounces and breakouts) and chart patterns. I think people really over-complicate trading. It works. It's easy. Getting the discipline to ...

USD/JPY Discussion

Just 5 minutes to the hourly close. I think a close under your support level will get the ball rolling towards 120. A close below 131.75 will seal the deal.

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

To be perfectly honest... 140, but I doubt we'll even see 135 again before the breakdown.

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

Either way, it's still a bear flag on the daily and I'm still short.

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

I agree, chart patterns are more art than science. That said my bull flag was broken, therefore I am short. We'll revisit this tomorrow and see where we're at.

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

Looks to me like the trendline was broken, retested and rejected. image

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

Agree totally on quoting sources. Very important to know who is putting stuff out there that they think is news and what is news. A link also would be nice.

Cable Update (GBPUSD)

If this baby doesn't see 120-121 before Friday, it'll happen next week.

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