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 26 September 2013

EURJPY

So, following on from earlier, if the current rise is a 'b' wave, the the EW count might look like this. It is in fact a smaller version of my weekend count with the 'v' already in and a new low nearer the 50day SMA and the LTL of the daily triangle, being the target before rising again. It is probably neater to relabel the whole pattern as a rising wedge with this current leg down being leg 'D' - I have added legends in yellow for now to run alongside the triangle. Given I am net short now, I obviously prefer either of these outcomes!

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