Monthly perspective — A quick look at the monthly: 1. Clear candle reversal pattern with almost a bearish engulfing candle 2. 5 SMA clear breaking and close below 3. 23.6 Fibo clearly broken 4. Stochs croosed over and back below the 80 OB ...

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

Ok: If it retraces further: 1. 5 SMA of 4HR which most probable would be towards the end of 230 2. Confluence of two 38.2 Fibos and two 50 fibos and 20 SMA on 1 HR around 131.40-50 If it continues falling: Shorting after clear breaking the 38.2 @ ...

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

Quit the and start the

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

The important question is... what will be the next most probable retracement level before continuing the fall? A. No further retracement B. Up to a Fibo level C. Up to a SMA/EMA

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

The 23.6 is @ 230.27

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

Thanks Intelmaster, Karno and my2buoys for the explanantion

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

The 1 HR 5 SMA is currently around 231.05 so why 230.5?

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

1 HR SMA?

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

He is talking about GU not GY

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

On which timeframe?

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

Same here but executed 1 minute earlier

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

I did the same for 55 pips

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

You don't have to memorize all of them, just the major ones: Doji, Engulfing, Dark Cloud/ Piercing, Hang Man/ Hammer/ Inverted Hammer, Morning Star/ Evening Star

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

Hammer-like candle (a perfect hammer should have a cropped/ shaved head and at least a lower wick that is twice the size of the body). Pring calls such bars pinochio bars (or pin bars) which have the open and close price almost at the same level and ...

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

Would oyu care for a second opinion?

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

Hammer-like candle at support level while Stochs crossed on hourly chart: good bullish potential

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

A Hammer

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

It is curently where the upward trend line support lies which extends from 17th August. If it is clearly broken, we should be heading down

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

mmm, so you don't think it is a strong one

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

You are missing the upward move form 227.38 to 235.48 which the price has just bounced its 38.2 level

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