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.

Saturday, 2 February 2013

AUDUSD: Weekend summary

Another USD pair looking for a low! Daily and Weekly Range channel lows are in the monthly FLD area and a test of the 1.0344 low from the 26th December 2012. Looks like another leg down to work off a diagonal although key that the FLD holds.
The Daily My-Wave has been an untidy mess all week which seems to confirm that this is a diagonal down. Another SMI cycle down might just do the job here with the weekly and daily range lows a great target area to look for a turn. Again, My-wave needs to turn up, and get retested along with the 2hr FLD; with the SMI in oversold there lies the elegant entry. Have covered this a few times in the other summaries this weekend.
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