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.

Wednesday, 13 March 2013

GBPUSD: 8.43pm

Quick overview: Longterm chart is quite straightforward - at some point that ending diagonal will in fact end and the result will likely be sharp given the weekly SMi cluster and the retracement line of the monthly cloud is 300 pips away (purple stepped). The orange 4hr bolly band is coming into a pinch and will drive an outcome; will it be more down or up? There is room in the 4hr SMi cluster for more up and I think we will see a 'c' in 'A' up, next. Everything is getting a bit tight on the intraday chart with the 60min bolly bands closing in on both the 4hr & daily clouds. I think price will move into the 4hr peak in the next hour or two and then up through the daily cloud top. Given the lower bolly band has had to rise to meet price and not vice verser has been interesting to watch as both the daily pivot and retracement zone gave stayed in tact all day. I'm for up, now come on!
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)