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 26 August 2013

EURJPY

It does seem that the triangle on the daily chart is holding and as such price would be now descending into the 'e' wave, before thrusting higher. Referring back to the weekend summary, this would put the 'c' wave of the triangle as the 100 day low, although it maybe simpler to describe the whole triangle as the low formation. I have this as a wave 4 consolidation on the weekly chart, so wave 5 to follow. We shall see. For now, the daily momentum study is looking leggy and I'll look to add in more shorts where I can.

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