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

EURUSD

As I posted Friday, I think that the 100 day cycle is the one to follow here. The gold 'FLD' has been broken to the downside on its' first test of the prior cut to the upside (marked by the red arrow) but the oversold momentum cluster has price right up against it. A break up here should see the red 50day FLD at least at 1.3020 and depending on the the pace, maybe more. For now the 100day MyWave is clearly bearish and I am going to give that the benefit of the doubt if price slows into the aforementioned zone. Will not hold onto longs below the daily pivot and will look to add if price makes it above the 100day FLD.
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