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, 15 February 2013

GBPUSD: 8.11am

Price has made it out of the expanding diagonal and over the daily trend line, bouncing off the 1.5552 Gann/Pyrapoint line at first attempt. I have set my targets at 1.5615, just below the next line up. Although the purple FLD may be breached, the range channel is capped above whereas a descent into the trough marked with the red box would allow price to expand into open space later. So, although forecasting is generally loose to say the least, I am looking for a breach of the FLD and then a fall the other side. We shall see.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)