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 15 November 2012

EURUSD: 6.23am

Not a lot to add to last night. Price action looks corrective but I am hoping it will turn out to be something a bit more sustainable than it looks. Price is still above the T4 trend line and the Daily My-Wave is turned up - not a shorting exercise by definition for me. Looks like this could turn out to be a 4th wave in the 'C' wave down from 1.3171, but nothing clear. I have drawn in 85.4% fibfans off the first strike up off the low (deleted the standard deviation channels as was doing no good here)and now the last high - just to see if we get some traction somewhere. If this does turn up again, then a break of the brown 'A-B' line might help after the daily pivot touch, and the back of the first 85.4% fibfan (top one) may be the target, eventually. Grasping at straws this morning with this dribble but following the DMW & T4.
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