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.

8s ept 2010

comment: price has cut below ext. fibo 61.8, where the end bottom point produce the image of bullish divergence. There could be 2 scenarios that i can come with analysis for today. Its either, market is doing minor retracement as the big timeframe indicates strong bearish trend,or market is starting up to reverse the pattern. If i count the wave, market is now performing minor wave 4 and going to complete wave 5 in a favour of downtrend, while if the wave that we're talking about is a corrective wave, then we have completed wave c, where market predicted to make reversal. stick to your target, careful with the indication, and try to get supportive indicators to confirm this situation.

6 sept 2010

comment: Hi im back. Ive left trading since may 2010, and its been like im loosing a lot of trading opportunities..turnover for GBPJPY is like 1000pips month-to-month.
anyway, while waiting for my deposit be bank into my trading account, i have my analysis on gbpjpy as per my wave counting to post.
In recent performance, i believe market has produced major bullish divergence, that can be seen over the double bottom point. as market is currently progressing bullish, it is not a good time to buy again. Let just wait until the market falls in oversold area, then re-confirm the situation through the indicators.
most traders i can say; they all might have been waiting for the price to hit ext. fibo 61.8 (to get a real LL bottom point.