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, 20 May 2013

Dow Industrials

The stack of lower degree FLDs is sat up looking very trackable here. Price has still not even made it under the daily pivot but the daily/3day MyWave is looking weak at the moment and the 1 day FLD (red) has been held to the downside so far today. As I mentioned last week, as each FLD gives way, the next in the sequence becomes the target. Each line is double the size of its predecessor in price and time(or half if we go back up again), so I take note of them as they get broken to see where the next one is on the chart. When they are all stacked like this, it makes the markets work easier too. If price can make the 12.5day at the bottom of the chart, then it is the same pip range again on the other side to the 25day FLD - now that is some nice pips from up here, if it gets there of course.
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