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.

Thursday 24 January 2013

USDCHF: 10.45am

When things are sloppy choppy, I reckon it is likely a 'b' wave or 4th wave and thus although I am hanging out long for D1 at about 0.9330-40, I think that will be the 'b' wave of an ABC down completing. Here is a Pitchfork from the 'A' low at 0.9274. It seems to contain all the price action neat enough, playing the bottom perimeter for higher lows. This is why I have been able to bank little bits with this pair over and over. If we see a good 'c' wave up to bank, then there could be a good run down the other side later.
On the intra week chart, D1 would be at the 4hr bolly top and 50/61% retracement. Maybe more but that is a good target me thinks, whilst the higher lows keep kicking in.

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