not telling a chicken how to suck eggs.... — You know what you're doing, obviously, but there is an argument which would suggest the 1hr bullish divergence we had earlier has played out. (blue box). If we take the current trough of the ...

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

Closed long for now. Expect some ping pong just above the 140.8-141 level. Might be another good long opp soon enough.

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

Hey — Yep, I took a long in a sub account at 141 for the inevitable bounce off the 50% fibo and 4hr bearish divergence play-out zone. Just a scalp mind. This downward pressure looks too great to be a shake-out.

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

UK news... — Am not expacting anything from the UK news today, and no one else is either. Asia has set us up nicely for a crack at 141.8 and I think we'll see it heavily tested this session..... 141 ish is my first thinking zone. If we crash ...

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

The direction has to match, not the exact angle. The reason we get divergences in the first place is because the two lines are either side of the zero line, (if looking at an x y grid). Divergence plays out when both lines are in the same grid pane. ...

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

I look at it like this: (but am happy to concede there are other methods) The angle of the 2 lines you plot must be in the same direction to be considered played out. So, in my example, if you draw a new line on the price from the low of the ...

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

2 examples..... — Here's a chart with 2 examples. First one is bearish divergence, (yellow lines). Second is a bit of a cheat, but i'm trying in indicate what bullish divergence would look like. The bearish divergence btw has not played out ...

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

Yes, but it played out on the spike lower. A simple way to remember which divergence you're dealing with is to view the location of the divergence lines. If across the top of the PA and oscillator, then it's bearish, if across the bottom of the PA ...

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

Divergences.... — Anything from 4hr upwards has proven pretty reliable for me, but I do look at the lower TFs too for signs of exhaustion, when price has rallied/dropped strongly.

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

Yea, the ascending trend line can be drawn differently, but it has been respected so far. It's just a guide really. We break this line as well as break the last low at 142.10 and shorts are back in business.

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

What I'm using — Here's a simple chart for you.... image

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

Gap update... — .....of course it's not an applied science, but the GCh gap from the weekend is still 180 pips away from being closed. It's one of the things I will be watching over the coming days. As for GY, staying short unless 144 gets ...

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

English looks prety good to me. — Don't worry about your English not being fluent. I'm sure we'll all get the idea.

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

Oooh — AJ knocking on the ceiling, UY knocking on the basement. Hmmmmm. Interesting. Providing we close today under 143.8, I'm staying bearish.

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

WTF? lol — Deliberately opaque? or just very bad English?

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

ES *wow* — I don't trade ES, so this is for info purposes only, but have a look at the massive bearish divergence currently in play on the Daily chart. chart image If/when ES decides to take a much needed pullback, the Yen pairs should ...

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

Depends on your own personal timescale. For me: Short term - anything from 5m to a couple of weeks. Medium term - over the next few weeks/months. Longer term - months/years I don't trade longer term to be honest as I have difficulty forecasting that ...

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

141 — 141 will represent some very significant support I think. As well as it being a historically important area, it contains.... 38% fibo retracement of move from 134.5 - 144.9. The 50% fibo retracement of the entire move from 118 - 163. ...

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

well..... — GU gap now closed. Quick enough for everyone..? Just waiting for GCh now......

Cable Update (GBPUSD)

GU gap — GU gap now closed. Just waiting for GCh now......

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