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.

Thursday, 19 December 2013

EURUSD: the bears are out but not here

A few more pips and I think we will get to see what is really going on. There is a lot of bearish analysis on twitter, but that looks like a decent momentum nest to me on the 24 pip range bar study. Also, worth looking at the MMA wave formation of the bullish wave leading up to this assumed correction and compare it to the drop. It is either not complete and has more to go to make it look more impulsive, or it will shrivel up and die as a 'c' wave in a flat, that I have been counting. If price gets to the daily pivot today, I'd be betting on more up rather than a reversal but we shall see, as we always do.  A few more pips.......

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2 comments:

  1. Hex19 December 2013 at 11:23

    Agree with you sir, I am long also since asian session..target 3770, then 3800+ possibly imop.

    Just wanted to say thanks for sharing your charts and views, all good stuff GL.

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  2. Clive Nayler19 December 2013 at 11:26

    Really appreciated Hex. Given the placement of the daily bollys on yesterday's charts, I think any 5th wave up is likely to be another diagonal formation to grind into it or a flat wave 2 right under 1.3831 before a spike. We shall see!

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