Its 1st of December

Comment: When the day entered December, Christmas is just around the corner...it should be a great season for me & of course others. Hopefully pips awarded for us before the Christmas day.hopefully...
Well, about today analysis;
RSI - 25 > RSI (oversold). Effect the market directly bouncing up for
about 50++ pips yesterday.

Smac-D - Being above line zero (no turning point confirmation) yet if smac-d
make a pattern, then that bullish divergence could be valid.

Overall, my indicators didn't make any clear signal to buy. I could only find Not clear (NC) Signal though.Anyway, i'm just waiting for a right signal to enter the market. Whose have been in a market (buy), go ahead ..try to find false signal that against our target.If there's any false signal...get your butt out of it immediately..Minimize risk, maximize profit!!

GBPJPY, morning 30 Nov 2010

comment: Not much to comment on. As the RSI is always being inbetween line50, i believe market is finding corrective wave.as if you still holding your sell position, consider to close some of them, as you might facing the moment where market is like playing on you..its only my theory based on above chart performance.

The minor bullish divergence

comment: Well today i just noticed that that minor bullish divergence (double bottom point) really made an impact. If we could see the RSI, it is persistent being on line 50 (sideways effect). It could be market performing minor retracement or major turning point, but preferebly minor retracement so that wave could continue down to complete the indication @ daily timeframe. (where smac-d is about to perform turning point).thru out the day, there isnt any overbought situation yet RSI persistent making sideways signal.Good signs for bearish side.

comment: it is a bit tricky this time when i was about to find the real top point. There are just too many false signal, bullish trap and other impacts pattern. Especially this type of divergence,it is really almost deviates it's nature when the pattern getting longer. Relief, its the RSI that confirm the turning point.
Anyway, im expecting price will getting down, target at least hit 130.33 @ fibo. retracement 61.8%.

bearish divergence target

which trend is major?

Comment: i've been waiting for any indication that bias to bearish trend but i didnt found any perfect signal. Was that last divergence that i found end up with major trend turning point or it just minor bullish trend that currently progressing. Anyway, lets talk about the indicators in H1,RSI is stable moving in between top & bottom line, there is no "overbought"', while smac-d both signal line & the histogram being above zero line
and this trend is strongly supported by the MAE 14 line which price is still moving above the MAE line.However, if there is sell set up happen in M15, it could test this resistance line to break this top point.

bullish or....retracement..???

comment: at the moment i believe market is performing minor retracement, and this could be valid until price test the resistance at 127.87. im predicting price should go further to at least hit 23.6 fibo to confirm the major bullish trend.at H1 timeframe, RSI line hit line 20, while smac-d (15M); signal line is above the histogram and both being above zero line indicating short term bullish turning point. this bullish trend can be confirmed if smac-d at H1 timeframe supporting the trend which can be identified only if the turn over point shown.anyway market is a bit volatile as everyone realise it.