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 19 February 2013

GBPUSD: 4.35pm

Stretching very tight me thinks. First chart lays out all the D'lines (1-5 days, 2&4 weeks). We just bounced off D1 this morning and failed the retest for a new low but they are all lined up above now and there is no daily trend at the moment - see second chart and completely flat trend lines. These look like tramlines when there is a trend. Add in the SMI divergence on the 2hr chart and I'll be buying some more of this bolly stretch.
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