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.

Tuesday, 6 November 2012

EURUSD: 3.45pm

My-Wave has almost turned over to the upside. I have added the trendlines I use (T1-T4, shortest to longest respectively) and as can be seen, this quiet period has not been so quiet under the surface. Still looking for price to make it to Purple D1 to gauge what next. This price action does look corrective or a leading diagonal but either way, we hit the 2month tide zone and now going back to check the weekly commitment to continue further downhill or not. MACD's on the charts look primed to me, but may fall away in a 5th wave down, if that is what is on the cards.
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