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.

Friday, 11 January 2013

EURUSD: 11.23am

Still waiting for My-wave to turn down. Could this be an expanding diagonal in 5th.
Given there are two prior highs still in tact at 1.3306 and 1.3292, this bounce is still countable as 'c' in 'B' for me.
This fits my hoped for thesis of a rejection of D8 here and a push down into the D7 trough. Need a move downhill of some sort to clarify. The whole raison d'etre of these 'D' lines is to find strong confluences of S&R. If you were going to short a big 'D' (and D8 is a little over the 4 month trend), would you not want an 'abc' retrace up to the line after a stab away. Just sayin!!
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