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, 16 October 2013

Dow Jones $indu

I mentioned yesterday that a new high meant for me that an expanding diagonal was in play in the 5th. Well, here is my count with emphasis on the MACD there. Note the pink box to the right - we put that target zone up at the bottom of the last move - I could not figure which side of the FLD it was going to ride and for the most it remained undecided, riding the line itself. Well, a drop out of the diagonal will also be a rejection of the FLD and that might be a direct drop to test the low or at least the 85.4% fibfan line. Adding to my shorts, now 60% allocated.

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