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.

Wednesday, 2 January 2013

EURUSD: 5.51pm

(chart updated with EW count, 6.26pm) Monthly My-Wave still not looking too bothered by this move down. In fact, it can be seen that a very flat 'abc' may have been playing out and 1.3133 may be the 100% 'c' wave, although it could just be the first wave down in 'c'. There is another top forecast shown in the SMI panel, so I am looking to go long into any break up above D2, in case it is done already.
Looks like an ED in the 1min chart, so happy to take a punt on the SMI forecast. The partial wave in this chart is the crest of the monthly My-wave from the last chart, and as can be seen, it still is not unwound to the downside. Bull and Bear positions have been profitable but I am looking to be net long based on the current situation. Looking forward to seeing what the SMI cycle uphill can now do.
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