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.

Friday, 8 November 2013

EURUSD

Possible count for first leg down from the top. Once complete, this would likely form 'A' setting up a 'B' leg up. For now, it looks like we are in 'b' of green wave 4, which might be a flat. I say that because if price wants to stay on that ledge posted earlier, then a flat would do it. This might then lead to a wave 5  that does not go much deeper than the wave 3, to enable price to get back up into that regression channel from 1.27541 (again, posted earlier) for the 'B' leg. Given this count is competing with the bullish 'D' leg scenario, I would expect the market to keep both options open for as long as possible.

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