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, 28 February 2013

EURUSD: 8.26am

Short off the 1.3163 pyrapoint line. Will add notes after school run. "added": Given the formation of the Daily My-Wave and the lack of thrust at yesterday's 1.3130 pyrapoint line, it got me to thinking. I have re-worked the whole shabang off the 1.2041 low and it looks good - see grid allegiance on first chart all the way from that low and the resistance on way down from recent top. If the 1.2041 low is still running things, me thinks this has a good chance of being a 'b' wave down to correct that 'abc' up from 1.2041. As such I am very wary of the oversold SMi, although perhaps only for the bottom of the 'a' wave down from the top. There is a blue support line coming up under the price action on both the daily and 240min charts - key line me thinks. Will go either way but being led my the daily My-Wave in third chart which for now is ambiguous and has been all week.
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