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.

Wednesday 7 November 2012

EURUSD 6.11pm

Well, that looks like a consolidation pattern to me and not quite the triangle it started out trying to be. It has yet to divulge its hand but this move is pulling price above D1 from the earlier charts. I am looking to go long here and although I have a tiddler on the hook already, I am looking for a strike for home to appear. Let us see if it comes. Any move lower and I'll assume that is a 5th wave down and I'll be looking for a small ending diagonal to fade.
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