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.

Tuesday, 17 September 2013

EURJPY

Slowly, but is it surely? Price action has taken its time to get to the golden weekly FLD and therefore it has become a lower target than last nights. However, the 1-5 day FLDs now streak across the page in a flat formation - there are no troughs for the next day. If there are no troughs (caused because of the grind up of late) then there is nothing to attract price down again unless the trend changes and 'cuts' the FLDs. So, my thesis of spike up is still on if this weekly FLD gets cut to the upside, and the 'bed' holds, but the spike might continue to roll up rather than spike. Note the weekly MyWave in the 2nd chart - looks possible!


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