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, 23 January 2014

EURUSD - longs covered

That was a nice spike and may make it to the next square root step at 1.3672 before resting but I banking a 1/3rd here and covering the rest, looking for a pull back to 1.3600 to back test the 20 day FLD (orange). There is a possible bull flag spot there between the 10day and 20 day FLD and that square root target, so any type of corrective action into that zone could be a good place to go again. The 60min momentum study also looks charmed to the offensive but waiting for that to reset is the safest option after a 100 pip gain - well for me it is!! Catch up later.

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