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 19 December 2012

EURUSD: 9.30am

When price crossed D7 a few weeks back, the D8/D9 confluence or D6 were the natural targets in the sequence. Given D7 only got a cursory tick back and D6, no look in at all, I am looking for rewards to the downside. We are pretty much there at D8/D9 now, so shorting here with an eye on holding that confluence.
Price is also pushing the yearly rolling regression channel and nearing the topping zone for the displaced cycle indicator too.
Negative Divergence towards the top of the diagonal - good enough place to try out for me.
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