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, 30 September 2013

EURJPY

It has taken a little while to get positioned but the test downhill looks about ready to go. This is my profit for the day, so the deeper it goes, the better for me. If that strike up was a new trend in the 'e' wave up, then price should be held up by the opening ranges at the bottom of the screen and/or the green FLD. However, if this was a 'b' wave up in the ongoing correction downhill, then the fact that price is playing around under the daily pivot should have some bearing and price should just scythe through those barriers below. Watching the Dow 'not' bounce is adding to my confidence that my bearish count from the weekend is correct and we are in a wave 3 down, hopefully fuelling Yen strength in this pair.
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