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.

Tuesday, 7 January 2014

EURUSD

So, if we have an expanded flat in play here for the correction, as mused yesterday, we should see yesterday's low pop too, given the top just went for a couple of pips. However, the 1.62x extension sits at 1.3586, above the 1.3570 low, so expecting a diagonal to sort out the differences down there in due course. Still not turned down the 3pip range bar MMA wave yet, so announcements at 1.30pm likely top be catalyst and confirm pattern. Glad I banked my shorts first thing but not a lot to show for the rest of the day so far, so fingers crossed.
Can not help but think that surprises will be to the downside, as the annual pivot for 2014 stands at 1.3471 according to my calcs which is close enough for a more direct assault than my 'b' wave retracement to be swiped away by the market. Just thinking.
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