risky — Risky move going long right now. Yea, the LTL will provide some support, but there is still some pretty significant bearish divergence to play out on other Yen pairs, particularly AY.

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

thanks — Nice.

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

4hr — Does the 4hr not have to play out or be invalidated first? AY has massive bearish divergence.

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

Gann — I find the Gann + QQE are great at getting you into and keeping you in a trend, but it does have severe limitations for exits. I tend to use divergence and volume for my early indication. Volumes are still suggesting more ...

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

Raza's a smart guy, he will have locked some pips in.

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

nice — Excellent trade.

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

It's OK Don, I'm probably being a bit grumpy about the whole posters thing. I just prefer kindness over ridicule regardless of how serious this job is. Yea, you're right, my Gann is still bullish, but I can't get the amount of bearish divergence on ...

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

He has a point though to be fair. There is too much ego and 'bullying' here sometimes. And the 'funny' pictures just aren't funny; they merely cheapen what is a good thread. Sure the trend is long, but building shorts is equally valid IMO. We'll see ...

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

Clear heads.... — OK, we're now at 143, key level. A retracement to here was highly expected. Not sure why people think we'll see 147-148 now? Looking at all the Yen pairs on the 4hr TF, they do not look bullish to me. We'll see of course, but ...

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

You can be wrong by being right — You always beat people with the same stick? Personally not trusting this rise at all, but we'll see what the big dogs have in store.

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

Yep — Exactly. Not so obvious when looking at GY, but the AY 4hr chart is clear. UY and Gold have some pretty significant bearish divergence building too, especially Gold. I'm seeing <950 for this to play out, but as usual, we'll know soon ...

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

Hmmmm — Everyone so bullish surprises me a bit. Just taken small shorts on Gold and AY. Maybe a bit early on Gold, but will average-in. 4hr AY chart. This divergence needs to either play out or be invalidated sooner or later. image Edit: ...

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

yep — Looks like a bear flag to me too. Also, the bounce off support we've seen has been weaker for Sterling than Aussie and Dollar. AY chart. Flirted with the 100% retracement line before consolidation between the 61.8 and 100 lines. image ...

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

Not great UK news at 10:00am either. Whatever it was, it looks like an excuse to slap the Yen pairs back down. Strong selling volume keeping a lid on any retracement.

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

yay — Closed this short at 79.12. Was a bit concerned i'd missed the boat, but we got there.

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

Closed GY Short — Not the move I was expecting. Therefore am taking the money off the table. News moves often retraced 100%.

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

First short.... — Just entered small short @ 141.55. Probably a bit early, but 4hr bearish divergence and RSI approaching o/b territory. Also signs of stopping volume on the 1hr TF. Will add more if we go up or down. If we don't see 142.9 ...

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

Jan 1980 - 570. Lower? Yep. May 1981 - 405. Lower?? Yep. Feb 1985 - 270. WTF!!! LOWER????? You betcha baby.

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

Grrr — Forgive me for sounding miserable, but could someone start a thread solely for 'funny' pictures please.

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

Ouch, how unedifying. I'm almost embarrassed for you now.

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