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, 15 August 2013

EURJPY

Not a lot to say on top of yesterday. I am expecting price to move down into the 100 day low in due course. However, price action seems to be suggesting it wants to go higher first and having pestered the 50% retracement line and the monthly bolly median, it has been crawling down the 45 degree line of last month's high low Gann square reflection. This chop chop suggests a 4th or maybe even a 'b' wave, so I closed my shorts at 130.00 yesterday and started to go long. A break of that 45 degree line and firm action above the daily pivot should see the 61.8% line tested but just maybe, price will aim for last month's high as well! As ever, we shall see, sure enough.

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