Disclaimer

Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Thursday, 22 November 2012

EURUSD 10.41am

On my screen, that last rise was 1 pip higher than last nights. If this is an expanded flat (rather than a small degree 5th up) to keep the series of 1-2's going in the upward direction (rather than the higher degree correction of the proposed diagonal) the daily pivot, D1 & D2, should hold the price action. This is key because if we get an 'abc' oversold SMI on the 60min, then there could be a 3rd of a 3rd coming. All I can do is watch the reaction downhill and see what comes into view. As long as I can off load my shorts at a profit, I am happy and even happier if there is a clean entry to go long again. Catch up later.
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