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.

Monday, 11 November 2013

EURUSD: multiple range bar studies - who is zooming who?

50 pip range bar


Break back above the Valid Trend Line of the orange 50 period FLD and the MMA wave should be given the benefit of the doubt as it is still formed to the upside, albeit under pressure. Price will be initially drawn to the FLD above. Notice the momentum studies in the subchart.



25 pip range bar

Still turned down but the VTL of the whole move from the top has been cut. Next is the orange FLD above.






10 pip range bar


On the turn to the upside, which if it continues, will begin to turn the 25 pip study. The question of course is "who is zooming who?" Is the 25 pip study leading or is it the 50 pip?




5 pip range bar


The smallest study I am using for this approach is 5 pips and whilst this remains bullish,  anything could happen in my opinion.
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