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 29 January 2013

USDCHF: 12.17pm

Quick run down on why I think USDCHF is a great buy on risk vs reward.
Firstly, that is a fully mature 4hr My-Wave at the bottom of a 1hr bolly band. Higher lows and a break out of the top of that wave should be a low risk entry, even if the positioning is premature.
Red D4 was cut to the upside on the 14th. This whole move back can be seen as a retracement of that break as long as it holds. Price is also gunning D5 which may coincide as an upside break with D4 already backtested. Need D1 and D2 to get cut to give this a chance.
If D4 & D5 are upside breaks, where next.....D6......except we are already at D6. Where is D7 then? D7 is also in a lovely big peak which at least asks the question about a bottom being in. This is why I have been trying for a week to catch this one. Fools gold?
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