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, 21 November 2012

EURUSD: 6.53am

Another view through the volatility envelope and the 'T' lines. After the initial move off the 1.2659 low, price has checked back to T4 in the first retracement and now has completed T5. If T7 is breached again, I would have to say that sufficient checking back has been done to run off and catch T6. The game of course will then be whether T6 was holding back for good reason or is just the straggler. I'll be happier with those gains banked before worrying too much about that part of the picture!
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