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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 24 January 2013

AUDUSD: 4.45pm

If this drop stays a three down, this could be an ending diagonal into D11. The weekly SMI only sports 2 waves so far, so a laboured grind up might work.
D1, D4 & D6 lines taken out in decline but bottoming zones for numerous D lines from here on in should drag price back up. Fits the ED from above.
Have been fading this long - looking forward to banking!
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