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.

Monday, 4 March 2013

EURUSD: 1.38pm

Looks like the Monthly DMA survived the test again. I could show various time frames building up bullish potential but the daily chart with annual pivot calc'd Gann sq9, is quite clear and at a higher degree than the other timeframes. 2day MACd & SMi are overbought and the 45degree channel line is right at the price. A break above today's daily pivot and we should see a thrust. Plenty of time to buy back into retracements, so will be banking anything over 1.3196 (next square up) or higher if get the opportunity to move stops behind that line. The monthly pivot stands at 1.3273 but the weekly pivot stands in the way of course at 1.3064 and that will probably be where this week's decision is made regardless of my intentions, as that is where the 45degree line stands today.
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