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.

Tuesday, 11 December 2012

EURUSD: 10.27am

Whilst musing on patterns, something covered last week was the possibility of the head and shoulders pattern, playing out between the Gann lines off 1.2041. Price took out the previous low at 1.2878 by 3 pips, so a re-look at that is probably a minimum target which might make up a 'b' of 'b' as mentioned earlier. A drop through and we maybe get our H&S to the next Gann line at 1.2736. T4 may still be the upside target, albeit trying to get down as much as price is trying to get up and we got neg divergence building on the SMI. Oh what fun.
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