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.

Sunday, 22 September 2013

USDJPY Weekend Summary


Overall, I have this pair in a triangle consolidation, not unlike the corrective pattern that we witnessed in EURJPY, with the UTL of the triangle fighting the 45 degree Gann Grid line (this being a reflection of the 2012 hi-lo square). However, the 'e' leg seems a bit short in time to be over and the MACD looks incomplete to the downside, with price still under the 4hr cloud, so a 'c' leg down is expected down to 97.00 where a=c to complete 'e'. This fits with the corrective Monthly MyWave and the Fib Fan studies as per the 60min chart, as long as the upside fibfan hold above 'b'.

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