Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
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.
Tuesday, 15 January 2013
EURUSD: 4.50pm
Hanging on in there but chip chop chop chip is corrective action. I have moved the short term chart up to 5 mins to give a better perspective of My-Wave from last night. See how the first retracement actually turned the wave bullish. Then the next one, made it pinch, but not turnover. Now we are under D1, the My-Wave has stayed fat and bearish. We are set for a waterfall and when it starts, the price action should stay away from it and on retracements, just about touch it, rather than smother it. Then we will be trending!
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