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 18 December 2012

EURUSD: 2.30pm

I have even been able to get some Christmas shopping in! Oh my, scratch my eyeballs with a pin why don't you!
So, My-wave is big and fat - Christmas Turkey style. This wave covers the trends on various time frames up to just over a month in duration. I have marked the higher lows within the wave and at 300 pips thick; a minimum retracement within this wave is the play I am after. If the wave turns too, then fantastic. This pre-Christmas muddling on the top of the wave for the tiddlers is not worth the mental effort as the surprise gifts should be to the downside not upside. Well that is what I have been trying to convince myself anyways!
Of interest to me is that an 'in-wave' retracement to 2900, would pick up all the straggling 'D' lines as covered previously, up to D6. A move to D7 would involve My-Wave rolling to the downside, so anticipating some tension in that zone before capitulation or otherwise.
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