EURUSD: Weekend Summary

It will surely be noted by some readers that this weekend's offering is somewhat shorter: just two charts. I have written a lot over the week as I battled away; and it really was a battle, not only trading the market action but also in deliberating what elements of technical analysis were helping verses those that were not. This chart does not have any Elliott Wave counts or momentum indicators, which I am now mentally relegating to descriptive analysis rather than leading in anyway. Undoubtedly, waves move in clusters of 3's or 5's depending on how you want to label them, but the interpretive significance at key inflection points is generally ambiguous in my opinion: a Gestalt discussion for later perhaps! However, I will continue to count and post them but find greater interpretive clarity in the areas of support and resistance provided by Gann's Square of 9 and my interpretation of Hurst's Lines of Forward Demarcation, which I have relabeled Displaced Moving Averages. There is an issue with which pivot point to use in the Gann work, regarding specifically the placement of the 45 degree lines and End of Squares, so I have removed these on this chart. The horizontal 'square' lines however tend towards universality at various degrees of time, if you allow a little wobble factor, which when combined with the DMAs, provide an excellent Matrix or Map. I can only get up to 2months of my trend calculations on a 60min chart but I think this provides more than sufficient guidance of S&R for intraday trading. I won't say any more, but leave you the reader to decide whether the price action shown would have been easier to trade with this map - note, all of it was laid out in advance - the 1.3708 pivot point will not have changed the Square of 9 lines by much, as working off 1.2041 low would have had similar calcs. It is a little messier, but I have added the 1.2041 calcs in the second chart for reference and will keep them on for my work in the week. Do note the cluster of lines below when combined with the Annual Pivot at 1.2903 according to my calcs!!