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.

Friday, 18 January 2013

USDJPY: 10.24am

Price is half way across the D9 to D10 divide. But as we know, not in a straight line! A pull back to D6 looks a reasonable retracement to wait for, suggesting a flat correction of sorts for a while, when it kicks in, although there is room for a zigzag down.
The intra week chart shows how price is sat in relation to D6, using lower order D lines to look at possible plays. At the very least, D1 will have to be tested, so wait and watch to see how that reacts in the shorter term.

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