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, 6 December 2013

EURUSD


 Price just made a slight new high there, so I can can 5 waves in the 5th of leg 'e'. May be more of course with NFP coming up, but any drop of significance now may be useful.
This is the 24 pip range bar study, so slightly different feel to the price and time studies in the last post.  I have marked out the 50-61.8% of the 'C' leg up and it comes in at the monthly pivot level, give or take 20 pips. There is a lot of support in that zone too from trend lines and FLDs of moving averages, regression channel perimeters etc. That momentum study is crying out for relief, but as I have suggested in the last post, I will not be outstaying my welcome on any drop today unless lightening bolt price bars appear.
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