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, 13 December 2012

EURUSD:6.31am

Good morning. Gracie the puppy has had another clean night, so life just getting better bit by bit.
We have already had an 88% retracement of the initial fall from 1.3126, so no room left really for more upside to keep this bearish theme alive. This pitchfork shows perimeter line at the 1.2878 - that number again. This is the pitchfork from the 1.2041 low, so if 1.2878 breaks this time around, should be a rush.
Price has held the first Pitchfork perimeter from last night's post, thus far. I have tempted fate and drawn in the descending pitchfork off that assumed 2nd wave. That is steep!
A bit closer in and the first touch of the centre line would be about the D4/D6 conjunction as angled for for a few weeks now. But, if the 'rush' is on, we may see that divide get 'cut' and onwards to D7. Pick up on that later, once direction is sorted.
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