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, 19 March 2013

GBPUSD: 10.48am

Price action seems to be taking the proposed path and is backtesting the trigger line and Daily Pivot right now. Note how price bounced off the 1.5136 Gann line calc'd off the bottom turn there - soft validation of the turn and getting over it may make for a higher drive to the next one. Anyhow, I have marked out above, the depth and width of wave 1 of this whole move up, from the wave 4 turn. So the right hand corner would be 100% time and price move of wave 1. The confluence to the right and lower is where all matters would come together in a retracement - matters that is that I have drawn in. I'll cover these all later but thought the map might be interesting to watch.
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