Old UTL — Price is back to test the previous declining UTL. Bounced off it so far, but we will be back in downtrend channel if we break through it.

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

Weekly PP — Below the DPP and WPP sits at 141.75. Looks like a reasonable initial target. Let's see if the bears can accelerate Sterling weaknes. (weekend gap on GU and GCh still not closed. May provide clues of mini support once we get there).

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

waiting....... — Still not closed the gap. Watching and waiting. Move has been rapid so far against Yen.

Cable Update (GBPUSD)

Weekend Gap — Something worth bearing in mind; the weekend gap for both GU and GCh has not been filled yet..... I can see Sterling weakening and fast considering the distance GCh has to travel to close the gap. Could send GU and GJ into a ...

Cable Update (GBPUSD)

Yepeeeeeeee — Yep, I also like to overlay a 9 WMA on my stoc, (white line). A typical confirmation for entry for me is when the fast stoc line crosses this WMA. Let's see if I get my cross in the next few sessions..... image

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

Not so fast — It's not always that easy. Gann can quite easily flip back again. Considering it's the Weekly Gann, we could flip back, fall 500 pips and still be bullish, with another flip before the middle of the month. I think most people are ...

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

thanks — Nice charts and analysis as always Raza. One thing though, your setups still allow for a retrace without being invalidated. I'm not talking about a retest of 133, more like 140.

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

Nice — Good trade. It was an obvious one, but played out nicely. I think there's more to go though. GCh has not closed the gap and neither has GU.

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

lol — There's time........

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

Really? — Is this before or after Hu visits Obama for the nuclear talks? Word on Bloomies last week was that the US was very unlikely to diss the Chinese at a time when they need Hu to add credibility to the talks. Hmmmm.

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

Hmmmm, all nighter I think — Yawn. Looks like I will be burning the midnight oil. Trailing stops starting @ 144.25 on some longs sitting from 143.90, so let's see where the bulls want to take us. Might be a while before the gap gets closed ...

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

Oi...!! — Is this some kind of turf/history thing going on? Take it elsewhere please.

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

What I see.... — 4hr chart showing possible retracement areas. It is usual for the breakout level to be retested at some stage before continuation of trend. The last major breakout level sits roughly between 138.5 and 139.25. (Tan box). As ...

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

Agree — Yep, I agree, a retrace is needed before the next push up. Somewhere between 139 and 140 should allow the bearish divergence to play out and the reload of longs.

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

why not.... — Your stop loss has a great chance of getting hit today whether on the spike or if the upmove continues. Why not set your S/L to B/E+1. At least psychologically, you will have gained something. Means you were right to go short.

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

John Herrmann — Anyone watching Bloomies? John Herrmann reckons the next 3 NFPs will be very positive, starting tomorrow. By June he predicts +550K. Take it with a pinch of salt obviously, but it does lend weight to Q2 being majorly bullish. ...

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

Thank you. The problem I have is there have been literally hundreds of occasions this past 4 days where price looks to have peaked; plenty of high volume spikes resulting in shooting stars etc on multiple TFs. BUT, it's as if GS/BoJ bots then spring ...

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

Quecee — Thanks for the analysis Q. The only thing I could add is the pretty big bearish divergence on the 4hr TF now. Overbought too. chart image Unfortunately, at this stage TA, (and FA), can be consigned to the bin, but it all ...

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

wot!!? — You need to get out more.

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

thinking out loud... — OK, this rapid rise looks like start of trend to me. My reasoning is this: If the 'informed money' have heavily bought the Yen carries, it won't be to pump and dump on tomorrow's NFP. We've seen a 1000+ rally from the ...

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