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, 2 September 2013

EURJPY

Now for something a little different. I have actually shown this before, once, but not on EURJPY. Each chart shows the same 'period slices' but on different timeframes. The lines represent equidistant Future Lines of Demarcation moving out into the future. Of particular interest is that each correction zone 'pinches' at the end, way before price gets there. Both the 4hr and daily charts shows corrections that look done. Note how the weekly is still trending. Combined with the 100 day low looking done or close to, I am taking that weekly profile as my lead for any breakout. Any breakdown would likely be a larger degree correction on the weekly chart and would usher in a longer period of chop chop.



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