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.

Friday 23 November 2012

EURUSD 2.47pm

Notwithstanding being on the right side of calling this move up in the beginning against all the odds, and ignoring for now the poor shorts I took out trying to be clever on Wednesday, I am still finding it difficult to recognize this formation as a wave 3. This might be my own predisposition for self flagellation but it 'feels' odd to me. Maybe the market is just playing hardball (as ever), but I have this bugging doubt going on and wonder if this whole move up from 1.2659 is a 'b' wave instead. So the 3 waves down from 1.3171 were the 'a' wave and this is the 'b' wave up. Need some proof of course and something to stop me going long on a decent retracement, but if the price action turns whippet fast down hill next week, I am just putting this on the plate.
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