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, 6 January 2014

EURUSD: irregular flat?

Price action gone all slow, which usually suggests a 'b' wave is in play. It is possible to count 5 waves up in 'A' and then an irregular flat, and wonder if we might see a pop to the upside rather than a retest of the low.
On the 6hr chart over the weekend, price needed to stay above the 80day FLD, get above the square root progression line at 1.3599, climb above the 40day FLD and take out the 45 degree angle line, to give it a chance at the 20 day FLD near 1.3710. Well, so far, price has kept the game alive and if the irregular flat is on the table as above for near term action, then there could be 100 pips from here.
All conjecture of course.
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