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, 5 December 2012

EURUSD: 6.46am

The price action since D5 continues to suggest that it wants to go to the D8/D9 conjunction but this diagonal is primed to crumble at anytime me thinks. I have been watching the higher lows and market entrants are buying with tiny stop distances now - that is being very cautious. A bear move would wash this stops away very quickly and with the SMIs continuing to warn of a fall, although a spike out of the top to that 1.3160 gann line area might be seen first. A return to D5 is nearly 100 pips just for a backtest, so no need to worry about anything else at this stage me thinks. (Just checked the charts in this post and they are no uploading cleanly - don't know why?)
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