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.

Tuesday, 8 October 2013

EURUSD

Price remained under the trend line yesterday in reaction to Friday's drop which counted down in 5 waves. Whilst price remains under the daily pivot, I am going to try shorts today, hoping to catch a ride down into the FLD trough, bowling out at the bottom of the chart, where the red regression channel LTL resides.
On the daily chart, we have a similar trough on the larger timescale FLD with the next pyrapoint line co-oinciding with the dashed support line at 1.34518. Both charts show green trend lines, so this continues to be seen as a retracement within trend, but after Friday's drop, not necessarily a slow one!
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