Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
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.
Friday, 30 November 2012
EURUSD: 9.13PM
I'll be writing the 'Lines in the Sky' report this weekend but given the somewhat solid work done this week by the bullish argument to keep the bears at bay, I have re-worked the grid of the initial drop from 1.6037 in 2008. This will be in the report with more explanation, but I just seemed to be missing a key to the bigger picture this week and this study appears to provide both timing and price guides that fit this correction from the all time high. D6 is not a trendline - it is the half cycle displaced T6. D6's topping zone is on the wane with price action starting to leave that trough behind. The next green grid line is only a few days a way. If the grid line fails to hold price then the 1.3604 Gann line (off 1.6037 at 45 degrees) could be our target. I had been hoping D6 would get another visit before marching on, but maybe the retest will be other side of the grid line. Next week, I will be following the daily My-Wave religiously - big pop coming one way or another me thinks next week. Thought I'd pop this up as it looks blimming interesting to me. Have a great weekend and thank you for dropping in.
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