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GbpUsd

The markets imho do not want a Labour Party government and the value of the Ģ could continue to weaken till the conservatives win outright or form the coalition as the leading party. We have a clear confirmed reversal on the chart. For any chance of upmove I think 1.5000 must hold
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Find a trend and milk it for all it is worth. That's how to be profitable
UsdJpy

This pair moves in mysterious ways. While the $ was getting a beating it was just moving sideways. A bit of $ upmove now it is breaking out. Smells of 'gentle manipulation' to me. So the idea is if the intended direction is up why fight it?
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Find a trend and milk it for all it is worth. That's how to be profitable
Olu, what's your view on oil now?
Quoting trexy123
Olu, what's your view on oil now?
I am now looking for shorts
Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
{quote} I am now looking for shorts
Summer is coming, huh?

Quoting Olu
{quote} I am now looking for shorts
What your target? Are you still long term bearish?
Quoting trexy123
{quote} What your target? Are you still long term bearish?
A retest of the lows at least. But for this to happen there must be continued $ strength
Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
{quote} A retest of the lows at least. But for this to happen there must be continued $ strength
You mean around $44 ?
Quoting trexy123
{quote} You mean around $44 ?

sorry for the late reply T

Yes I meant 44. Check oout the chart today the candles on the daily 8h and 4h are not good there is bearish divergence as well.
Of course this might not be the turn I am looking for but I dont think I am too far away. This scenario needs the $ to strength as well
First signs that this idea is rubbish is if 65 is taken out
Find a trend and milk it for all it is worth. That's how to be profitable
Quoting Olu
{quote} sorry for the late reply T Yes I meant 44. Check oout the chart today the candles on the daily 8h and 4h are not good there is bearish divergence as well. Of course this might not be the turn I am looking for but I dont think I am too far away. This scenario needs the $ to strength as well First signs that this idea is rubbish is if 65 is taken out
Hi olu, thanks for replying. Can I know what indicator do you use to check divergence? Also why do you think it will retest $44 since we already have a double bottom?
Oil:

Decision time?
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Posted over on the Oil & NatGas thread as well:


WTI support and resistance. Wednesday was picture perfect pinbar. Today holding on current support:
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Quoting SunTrader
Posted over on the Oil & NatGas thread as well: WTI support and resistance. Wednesday was picture perfect pinbar. Today holding on current support: {image}

Thanks for the chart SunTrader. Let's see what it will do. There is some weakness right out of thee gate. But a few cents change here or there is nothing the way crude moves. $ is stronger too
Find a trend and milk it for all it is worth. That's how to be profitable
Hi Olu and all the rest:
I realized I canīt distinguish between positive and negative divergence. Can someone pass me a link where it is well explained? I searched the net a lot and most found are about negative divergence but very rare positive. Thanks
What I mean is for example when prices are making higher highs but indicator such as RSI is making lower highs this is a divergence. So what I understood is that If it is a positive then prices will break to upside and continue making higher highs, if it is a negative divergence then prices will collapse to down and trend change occur. I canīt distinguish between both before prices start to move.
Quoting rehab
What I mean is for example when prices are making higher highs but indicator such as RSI is making lower highs this is a divergence. So what I understood is that If it is a positive then prices will break to upside and continue making higher highs, if it is a negative divergence then prices will collapse to down and trend change occur. I cant distinguish between both before prices start to move.

http://www.cobrasmarketview.com/what...ve-divergence/
Thanks srt, please check the following link and you will see what I mean. Both negative and bearish divergence show same symptom but one lead to trend continuation while the other lead to trend collapse and direction change. My question is how can we distinguish between both before prices start to move? same goes for positive and bullish divergence.
http://stockcharts.com/school/doku.p...ngth_index_rsi
Quoting rehab
Thanks srt, please check the following link and you will see what I mean. Both negative and bearish divergence show same symptom but one lead to trend continuation while the other lead to trend collapse and direction change. My question is how can we distinguish between both before prices start to move? same goes for positive and bullish divergence. http://stockcharts.com/school/doku.p...ngth_index_rsi
Hi Rehab,

I guess I'm missing the question. Both articles seem to explain it the same & correctly.

Positive Divergence (Bullish)= Price makes new low but indicator makes higher low.
Negative Divergence (Bearish)= Price makes new high but indicator makes lower high.

There's also "hidden divergence" which is a bit different so maybe that's what you're questioning?

***Negative Divergence=Bearish Divergence (different terms for the same thing)
ya, then it is hidden divergence what I mean, sorry, I am lost in terminology. Thanks for making it clear that Positive div = bullish div & Negative div = bearish div.
Quoting rehab
ya, then it is hidden divergence what I mean, sorry, I am lost in terminology. Thanks for making it clear that Positive div = bullish div & Negative div = bearish div.

Hidden Divergence is a funny one Rehab. By the way how have you been. Missing your charts and questions on this thread


Bullish Hidden Divergence ------> Price making higher lows while indicator making lower lows

Bearish Hidden Divergence ---------> Price making lower highs while indicator making higher highs

Hidden divergence indicates a resumption in the prevailing trend while normal divergence usually points to a reversal against the prevailing trend

Hope this helps
Find a trend and milk it for all it is worth. That's how to be profitable
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