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

Price has made it back to the blue dashed line as suggested this morning, in a retracement formation on this 4 pip range bar chart. The question is however, whether this is the first part in a bigger pull back, which I believe it is. I am staying net short and see how this afternoon goes.
This second chart shows the momentum study only just getting going after that 5 waves up on the 12pip range bar chart.

That 5waves up above, is the last strike up in this 24  pip range bar chart, which looks like the 5th wave up in what I am calling 'a', with that retracement angle just below price now.
So overall, I am looking for a 'b' wave down of which this bit so far today, looks like 'a' with 'b' & 'c' to go. We shall see.

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