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 26 November 2013

EURUSD: KISS

Time for a zoom out at the daily MMA wave. We got some mixed messages. Firstly, the wave is bullish in formation and price is above the 50 period orange FLD. However, the MACD is still bearish and the momentum study has not nested a low, suggesting unfinished business. Given the 'abc' formation prior to the drop and the symmetry of the wave action into that top, another drop into 'C' down has got to be kept in mind. From where that drop occurs is another matter, but best keep this chart in mind if a bearish wind gets a blowin.
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