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 20 December 2012

EURUSD:11.49 am

Wave 2 stands at 67.5% retracement of wave 1 at the moment but internally 'c' is at 162% extension of wave 'a'.
Looks like an ending diagonal on the 1min chart. Wave 3 or C to come next I hope. The little pink arrow highlights how deep this retracement has been as the 'bullish' stack has opened up again - this being on top of the monthly wave in the first chart. Next wave down needs to slice right through this area and with some venom to pull this wave downhill or something else is up me thinks.
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