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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.

Thursday, 7 November 2013

EURUSD

Well, that was perhaps a little stronger than I was expecting for a 5th. Just perhaps the 'C' wave explanation covered earlier today was the way to look at this. The momentum nest looks like it is now it its final run in, but that does not mean that price wise, we are necessarily there. A 100% equivalency of leg 'A' would be 1.3157, which is pretty close to the 61.8% up from 1.27541. Seeing as how quickly pips can be taken in between the consolidations, it may not be a trip too far. I wonder of it all end here in a powder puff, or whether we get that ending diagonal for a final powder keg?

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