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, 19 September 2013

EURJPY



Okay. The MACD in the 2nd chart is showing classic negative divergence for a 5th wave. Given it is an overlapping structure from 1-5, it is likely to be an ending structure. I am thinking that the breakout of the 'triangle' thesis may be masking the the 'b' wave as an expanding flat structure. A drop out of this upward trend is needed to confirm, but with the Dow looking very toppy, along with my count for EURUSD, I am adding in shorts and looking for a strike downhill.
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