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: 8.37am

As noted a couple of posts back, T4 had not turned down before the New Year and the monthly My-Wave was still constructively bullish, thus the spikes down were used to release shorts and edge long. Target was reached overnight along with an overbought 30min SMI and a forecast of a low to come on the 4hr version.
Looking at this apparent ending pattern on the 1min chart and the previous high at 1.3307 still in tact, I'll be looking to short from up here until the SMI has reached bottom and then reassess the motives.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)