seems like its still respecting downtrend line

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

I share the same sentiment Piters. And depending on the sentiment when we reach the 149 area, it may break through and dip further. That remains to be seen of course.

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

Actually I think I was looking at the same one just wrong time frame. And yes, H&S formations of late havent been too relaible, like the one some of were watching yesterday that went north this morning.

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

On multiple screens I actually have ZeroLag MACD in other windows as well. I use 8,34,9 settings. In fact right now, its showig me some very healthy bearish divergence on the 4 hr for G/U. If that drops tonight and U/J can breakdown as well, we ...

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

Thanks for responding. I have found a big difference in the lower TF as your book mentioned. As I said 6 for 5min (and 1) and 8 for 15min works nice. In any case there is a difference in what you see doing it that way for sure. I did try the CCI ...

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

Raza, Question for you on RSI. I swear by it myself. Great for divergence indentification. When you observe different TF's do you adjust your RSI parameter for different TF's, or do you leave at , say, 10 for everything? Ive set up a window for each ...

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

Just did url

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

Yes, Apple and Yahoo both announce their earnings after the close of NY. Apple is expected to do better than the est as usual.

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

RSI — Nice bearish divergence on the 4 hr RSI. Maybe back down to DP after it plays out. Comments?

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

Thanks for your thoughts Quecee. Weekly PA certainly looks bearish, just wasnt sure how signiicant the DP was. It may very well get below that as well. Alot can happen in the last hour. Enjoy your weekend as well.

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

...and if it doesnt close below the DP, in your opinion, does that invalidate the senario for next week or just delay it? As I watch it spike up, lol. Maybe the last gasp before it gives it up.

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

There's alot more earnings reports yet to come next week. Besides, the way this market has been going, one may be better off taking a contrarian position when everyone is saying its going up, etc. The market will do its best to embarrass anyone who ...

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

Piters. Im not a big poster obviously, but a constant reader looking to learn. I respect your opinion and would like to know if your sentiment is still the same considering the bull flag on the 4hr. Personally I think it needs to retrace further ...

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

url

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

FYI — FYI people.... Just heard a report on CNBC that the NYMEX will open at 10am Sunday morning EST providing early reaction to IKE. Get rid of those weekend hold-over trades if you can. Between Lehman and IKE, I think it promises to be ...

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

Yes its that 50% fib Im targeting for sure. Thanks for you thoughts

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

Lilmoe, if you dont mind, whats your take on EU? Im of the frame of mind that it will revisit 1.38's again tomorrow before a bigger correction. Your thoughts please? Thank you.

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

As G/U finds new lows of late it too has been forming bullish divergence on the daily TF for almost a month both on CCI30 as well as RSI. Nearing a bottom ????

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

FYI url

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

Yeah, in the last few minutes of the DOW, they received some news on who may be partnering up with Lehman Bros and it spiked about 200 points in a matter of minutes. Crazy day there today.

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