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, 5 March 2013

EURUSD: 7.18pm

Price right up against the blue channel line after the break this morning - perfect retracement within the Gann Grid from 1.3708, if it holds here and drops. Annual Pivot at 1.2903 would be a perfect target. Changed my mind given risk reward, I am shorting here, stop above this morning's high. EW wave count would be wave 4 of C from top, completing here with MACD showing return to zero line. Drop would be the 5th wave down of C, to complete (I hope) a correction, not a wave 1. We shall see in due course.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)