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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.

Friday 31 May 2013

AUDCAD

Not quite ready to accept my EW counts on this yet. I am wondering if this is in fact an expanding flat in the 4th wave, trying to look like an ending diagonal, with the downward momentum causing the dropping action into the retracement. As such, we may have just be grinding out the 'b' leg of the 4th wave, setting up the stop losses above to fuel a retracement in the 'c' leg. It certainly counts better than trying to get that ED to fit.
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