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.

Monday, 9 December 2013

eurusd

It is only 5.21am gmt, but the slow price action thus far suggests a 4th wave in the ending diagonal of wave C in Y.  Therefore, I have moved the legs over all the way down to the 'B' of Wave Y, to accommodate another leg up to complete the contracting diagonal. It looks quite symmetrical actually, and if wave iv has to go into wave i, and wave v has to be less than wave iii, then a target of 1.3760 for the v'th wave looks right, where C=A and Y is 127% of W. Unless the price action changes then, I'll be looking to bank some shorts and cover the rest at 1.3680 and ride longs up for 80 pips before letting them go. Anything more dramatic to the downside and I am already short.
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