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, 12 September 2013

EURJPY

Okay, that is 2/3rds of shorts covered until I see a reaction to this decline. MACD of the trendline and its 50% is now at the zero line and the 2hr momentum study overbought - perfect set up for a 4th wave down to end - if it is one.
 
Price is also at last month's high and backtesting the previously constructed 'triangle', an alternative structure that may still be the eventual winner for explaining what is going on!


In a perfect world now (for me!) we will see and ending diagonal up to end 'c' in whatever longer term patter is unfolding as blue 'B'.
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