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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.

Wednesday, 7 November 2012

EURUSD 11.35am

These are the trend lines driving those 'D' lines in the previous post, up to D7. Given My-Wave has yet to turn over yet to the downside and how much pip mileage has already travelled, I wonder with the current failure of D7, whether T7 (at the 38.2% retracement mark of 1.3171 to 1.2041) is about to cave in. The 4hr & 16hr MACD's are in the right position and see how T4 continues to drive the 'stack' downhill - all is in alignment above - just T7 in the way. Will it hold or not?
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