Referring to the price action on the 4h chart , i expect it to go down. We can see a huge bearish engulfing candle , it just absorbed like 4 candle which means the support around 229-229.10 is important. It just retraced to the middle of this ...

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

It looks like we got a nice bullish engulfing candle on the 1h chart with a target of 229 If it retraces back to the 1h 5sma and holds it , i'll go long until it reaches 229

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

Yeh... anyway taking a position while there are spining tops or doji as candle in a ranging market sounds like suicide so we'd better wait a confirmation of where the market is heading to Maybe the Asian guys will show us the way

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

I'll think about going short again if the momemtum (10) is bouncing off the dotted line (0 line) and go down with a tp1 of 226.25 and tp2 225.70

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

Yup... same thing for UJ and EJ as well

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

Yeh indeed , i'll take a look at it from now on Thk

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

After touching the 100sma like 4 times , it dropped almost 100 pips

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

GJ keeps bouncing off the 100sma , let's wait this hour to see if it'll break it or go down

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

same here , i wonder what i did wrong :s

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

All indicators are pointing south Looks like i'll wait a retracement then i'll go short with a tp around 225.60

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

Going short with a tp 225.60 is tempting

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

Indeed

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

For me it ain't really interesting , i don't really like spinning tops . They don't give you the direction of the market , so i'll wait like you

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

Trading 146 dollars and 1 millions is different

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

And there is a divergence on the momentum as well But it just bounced on one of my trendline at 227.60 If it closes below it , i guess i'll go short

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

If you guys keep counting on karmo's and aus's calls , you'll never be able to trade alone. By saying that , i might be hated but DON'T GIVE US ANY CALLS

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

The engulfing bullish candle is only valid if it comes after a downtrend mate ( that's what Nison says though) But i agree that if the trendline + fibo are broken with a bullish engulfing candle or not, going long would be a good idea .

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

It doesn't seem a good day to trade , the market doesn't move a lot. Maybe the leading index m/m for the US will change that

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

UK house prices , higher houses prices caused this drop

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

Boring start of week , let's wait until London opens to get some action

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