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

So while I struggle to contain the choices of EW counts available for this move into the lows, my interpretation of Hurst's work does suggest that a return to the 20day FLD is going to be nagging the bears. I have drawn in a red arrow where the 'cut' to the downside was and there has been no retest as yet. In addition, the 20day FLD is flat, suggesting a correction in play overall until otherwise proven - hence the retest needed. Price has been flapping around the 40 & 80 day all week; a return to the 20day will complete the sequence.

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