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, 12 February 2013

EURUSd: 4.04pm

Okay then, Daily FLD breached. Will it hold? Well, I have added the next FLD up on the the ladder (2 days) and its trend line. Notice how the series of 1-2's at the bottom of this move has already backtested the 2 day trend line. A break of the daily FLD brings the 2 day FLD into the target zone. I have drawn in the projections for the daily FLD on the right based on the current trajectory. If price continues up in red 'a', I think that may be our area for red 'b'. catch up later.
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