iQuaestor: EURUSD

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, 9 January 2014

EURUSD

Attempting net shorts here on basis that that annual pivot at 1.3471 looks quite possible in time for the Venus conjunction, if the contracting diagonal holds. Given the CD UTL is at the 40day FLD, which is being tested from the underside at the moment, it seems that the possibility of a wash out into that zone was worth a few pips risked, especially as the 12 pip range bar MMA Wave is bearish and price is holding under that FLD. I have already moved those shorts to BE on the move down under the FLD on the 3pip range bar chart, so just hoping for some breathing space to enjoy the ride down.