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.

Wednesday 27 November 2013

EURUSD: Speedline study

This is a speedline study of the move down from the top at 1.3831 and the response up from 1.3294. The red arrows point out the 85.4% lines and the remainder are grid lines of the 'A' wave depth as discussed many many times. So, we have 5 waves in an expanding diagonal (well it looks like 5) approaching the 85.4% down from the top and the one up from the bottom has not managed to create an actionable base to date. Break the one under price and we should see something worthwhile, but leach to the right and build out that triangle and range trading will likely be the order of the day, as if this price action was not boring enough!

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