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, 17 June 2013

AUDJPY

I have added the 25day cycle to this 90min chart - see green circle to right of the sub-chart; that being 25 days from the green circle to the left and that being the assumed low for the last 25day cycle, which I am also viewing as a 54month, 18month and 100 day low( see no 13 CPA report to right of screen). I have then split the 25 day cycle down into 4 sub-cycles, being the 6.25, 12.5, 18.75 & 25day cycle points. It appears that the 3.125day low was achieved Friday/Sunday night, but a bit early for the half way point between 0 & 6.25day. This consolidation now, is moving price right into the 3.125 day cycle low timing zone, and at a higher price than the last low. I am looking for a 'c' wave up in 'c' to complete the first leg up which I am re-labelling red 'a' for the moment. Somewhere between 100% and 127% of the first leg up, would be great to bank longs and give us a very symmetrical bottom being formed. I then expect red 'b' to come back down again in 3 legs to re-test the 12.5fld (chocolate line) into the 6.25day low. Now there would be a great place to go long again.

No comments:

Post a Comment