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.

Wednesday, 25 September 2013

USDJPY


It does seem that the fate of this pair is a bell weather for everything else I am trading at the moment and in particular the triangle on the daily chart. I am doggedly long on EURJPY & Dow at these levels and yesterday's USDJPY price action is the reason. As far as I can tell, and I hold my hand up at not being the best EW counter at all, but that does seem to count as 5waves up yesterday and now a 61.8% retracement with an ending diagonal formation, with a little more squiggling to do. It seems text book, except for the 'E' leg being short in time compared to the others, but again as I said yesterday, I'll be a lot happier looking backwards!!
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