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:11.15am

Well, as suggested, price fell from T4 and has retested that level this morning, on its way to the D1 trough. However, price action is looking a little aggressive at the moment, so I have been looking at the bigger picture for clues as to what might be occurring if that trough does not hold. Here is a chart of higher timescale 'lines in the sky'. Look at how D7 is repelling price action at the moment and where D6 currently sits. Now look at the next timescale up and see where D7 sits in amongst the journey and how it just maybe taking over from D9, which has been a long term partner. Alternatively D7 breaks to the upside and we return to D9. Lots of options huh! All I can do is follow D1 though and see where she takes me.
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