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.

Monday, 3 December 2012

EURUSD: 1.20pm

Looks like D5 break up is holding so far. I have nudged my targets up to 1.3250 in case of rockets going off. If D5 breaks back under again then short I am. Recall from the weekend report, we are north of the yearly My-Wave spine here and that blessed trend line from 2010 that held things up all last week. My next 'D' line up is that D8/D9 conjunction at the 61.8% retracement of the move down from 1.4939 to 1.2041. The nearest Gann line to there is the 1.3307 marker which is right at the next My-Grid line up from 1.2041 too. There is the 61.8% extension of the move from 1.2041 to 1.3171 at 1.3366 and into the next My-Grid box I presented over the weekend, so maybe 1.3250 is too low. I'll be taking it off the table anyhow and waiting for a retrace for sure!

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