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, 10 December 2012

EURUSD: 1.51pm

My-Waves over 3 time frames:
For the trend to hold on the lower time frames, the daily has got to rollover. In order for it to roll over, price has got to stay above it. The first obstacle is immediate pull backs which seem lacking this time around. Still, a push up and then a retracement into the 'turning' wave is to be expected in due course. So looking to bank nearer 1.3000 as stated earlier.
4hr My-Wave is bullish here but having to pull that daily one with it. Expect this to tire at some point as a result.
The hourly My-Wave will signal weakness before the 4hr fails.
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