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.

Thursday, 3 October 2013

EURJPY

Price has made it to the peak of the 7d.FLD (orange) and the weekly average of the daily pivot. If there was a perfect place to turn back down to keep my ending diagonal thesis alive, it is here. Similarly, it is a great place to make a committed move north if it so wished, along with USDJPYs jump overnight. However, I a mindful of EURUSDs need to retrace yesterday's spike, which under my count would bring it down to near 1.3400 in a 4th wave. So, I have added to my EURUSD shorts, and banked some of the EURJPY longs to edge net short there, but not by much. I still want to be long EURJPY, but lower would be great and it seems to me that we could do with a sell off to clear up matters to the southside.
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