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.

Thursday, 2 May 2013

USDJPY

Triangle coiled up nicely on the 14day cycle chart with 1.75D-7D.dma s immediately above. If the longer term momentum cycle on the larger chart catches here, price should test the 14D to keep the 'big triangle' storyboard going or not as the case maybe. I am quite happy to take a running flat in a larger 'B' correction here rather than a less bullish wave 4 triangle but again, the price action will tell us in due course. For now, the momentum cycle is for up and where it goes will be where I end up ( I hope!).
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