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.

Wednesday, 8 January 2014

EURUSD: speedline sudy....

..of move up from 1.3294. Based on my count of a larger expanded flat to make up a 'B' wave, the size of the retracement does now look in proportion to the move up - see pink boxes for respective end of 'A' and 'B'. I have added in a speedline study for the two 'a' waves and accompanying grids. Looks pretty tidy to me on touch points. Notwithstanding my cautious counts this week on trying to place an interim 'b' wave into the count, it just may be that the whole correction is over or soon will be. Note, we are at the 50% retracement of 1.3294 to the 'A' wave marked and also the 162% extension of the first move down from 1.3892. The thrust up might be bigger than expected....if it comes!!

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