EURUSD 6.23am

I should have waited for these lows to go long, especially as I covered this first thing yesterday! Price made it down to the 1.2736 Gann line overnight and the hourly SMI is starting to relocate in the right position. The D1 & D2 troughs have provided strong support thus far along with that gann line and interestingly, D3 has not been touched. Again, as on the first retracement that was deep off the 1.2659 low, I was hoping for the move up to get going, before succumbing to the 'topping' zones marked out with the dotted dash lines. However, we do now have that pull back to D7 in what looks like a 1-2,1-2 count if I want to stay bullish. I have to for the moment as D3 was cut to the upside and this should confirm that D4 is the target until D3 is cut back through to the downside. Those are the rules! The weekly My-Wave is still in tact to the upside, so deep 'abc' test is how I am counting this. If this is going to be a wave 3 up, then I anticipate a solid move now to D5 because the 'topping' power of D1,D2 & D3 has all been used so far and all we got was a higher low - so far that is! So, I am gunning for 1.3020 Gann line not the 1.2878, which should prove a temporary ceiling but maybe a place to top up again. Price needs to get back over the daily pivot and D1/4 to get the rolling thesis back on track.