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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.

Friday, 4 October 2013

EURJPY

Well, it looks like my diagonal thesis is holding well and glad I covered my longs. As I suggested earlier in the week, if EURUSD were to start to fall into its wave 4 and USDJPY was not over with its fall, then there maybe a downward impact on EURJPY and so it has been. I'll hold my shorts until EURUSD bottoms out but given that I think that pair will build a triangle in wave 4, there may be just a few more ups and downs to play in EURJPY. Bottom of my diagonal here is about 131.20, and I'll look to get long again there if EURUSD is playing ball.

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3 comments:

  1. Zink4 October 2013 at 12:08

    As i told you usdjpy is not helpping eurjpy!
    usdjpy is in a large triangle formation and in this price is on the edge of that triangle in supost finaly wave E. Let see if is form here it start to rise to break up that triangle !

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  2. Clive Nayler4 October 2013 at 12:42

    Unless it isn't a triangle of course, well not a bullish one, but a 'b' wave version with a lower flat base LTL. I got EURJPY in a descending diagonal as per posts, with a bit longer to go of up and downs. All good fun but looking for EURUSD to pull it lower for a bit.

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  3. Zink4 October 2013 at 13:46

    what time frame are you see that not bullish traingle in usdjpy?

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