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.

Thursday, 6 December 2012

EURUSD: 8.10pm

Looks like the return journey has started; the only question is to what degree: a 4th wave in this leg down or start of something bigger? Don't know of course but would rather not swim around in a 4th for too long. So, a return to D3, where the orange D1/4 sits is my starter for ten but if D3 can not hold it, then a steeper rise to D5, maybe D2. I am eyeballing D1 falling down the right of the chart and think that is our true test of this downward trend but only relevant if D1/4 fails. That could, however, be some ways away in time if price action goes sidewards. All I can say in the short term is to watch out how price reacts at the 'D' lines. Back tomorrow.

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