Nope lol. — Also a small confluence level at 145.50. 50% fibo from this week's move down and neckline from last week. Chart image

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

UJ — It's not what's happening now which is important, it's what happened earlier in the day. Look at the following 30m chart. I have highlighted a marked increase in volume which coincided with a wide spread downbar. This downward pressure ...

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

yep. — Exactly. If you can monitor it closely enough, the long looks reasonable.

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

Upmove supported — The 30m TF looks to be supporting this move. 2 blue arrows signifying increased volume during the upmove. 3rd blue arrow shows reduced volume for the initial 'test' of resistance. Looks bullish to me. Chart. image

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

Yes — Pretty much yes. Karmo has said in the past that the safest entry would be to wait until the 1hr crosses bearish and then bullish again after the 4hr has crossed bullish. Looks long now though. No selling volume kicking in at resistance ...

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

Bah!!! — lol. Bloody S&P downgrading Spain. Could be a rocky session! But, volume not wholly supporting this move. 142 -142.4 should represent strong support.

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

Eh? — You posted this trade after already being nearly 100 pips up? If Malcolm were here right now.....

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

vol — Yea, my VSA knowledge isn't 100%, but on the hourly TF, the last bar was quite wide on increasing volume. The current bar, (atm), is smaller but has increased volume. Means buyers are coming in. BUT, we won't know just how many until the ...

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

Am long — Have taken a speculative long. Can see buyers coming in. Risky, so we'll see.

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

Volume — Early indications arre that the volume for this current hour will be high.

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

Chatroom — You two should get a room.

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

GY — Sorry, I meant I had a couple of GY longs which are hedged. GU and EU only point south to me.

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

Yep, here comes $ rally. I have a couple of longs which I am hedging now. Bearish bias now looks very strong.

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

Yep — It's a valid point of course, but there are other scenarios that are possible I think. A bounce off major support is not entirely unexpected and I would have been more suspicious if we'd crashed through immediately this week. We could ...

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

But, fundamentals are turning positive. NFP at -11000, that's staggering even if it is bs. This is the major news that's on the table right now, everything else has already been known for a while. The US is out of recession now, as are Japan, ...

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

Careful Shorts — Gold taking a long needed dump. DX being bought on dips this week too. Risk returning by the looks of it. Sure it can turn on a sixpence, but today's 'data' cannot be underestimated IMO.

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

Thanks.

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

Do you mean Yen lower? Yen pairs higher? Or are you expecting a retrace?

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

wot!!? — You gunna get killed thinking like that. So what if the currency is weak. Sentiment is that next month the US jobs figure will be +ve. Ignore that at your peril.

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

Stay Out — Unless you're in an existing long trade, my advice would be to stay the hell out. Shorting here could be suicide.

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