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, 11 March 2013

EURUSD: 8.12am

Looks like consolidation to me under the daily pivot. On the first daily chart, there is the 1.30059 Gann line and on the 60min chart, the 1.30204 & 1.29878 lines, depending on whether 1.3708, 1.2041 or 1.18905 is taken as lead pivot. Notwithstanding the answer to that issue, it is a tight cluster near the daily gold dma and the trend line indicator (thick line) is clearly red for sell. So, I am looking to sell, even in the face of the obvious desire to go long. We are going into consolidation here via the bollinger bands and a break below the regression channel and 4hr dma will see a retest of Friday's low, although I am still looking for the annual pivot or more at 1.2903.
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