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, 22 January 2014

EURUSD

There is a square root progression step (5.625 degrees for  1.2041) at 1.3526 that was the centre of attention yesterday. I have released shorts from last night's top in the drive down with cover back under that 1.3526 line. I have today as the 10 day low in my cyclic phasing chart (see weekend report) so looking to give the longs every opportunity without hanging myself.
We are rolling down the weekly FLD at present. A 'cut' upwards would be punchy, if this move down is a retracement rather than another leg in a diagonal. The market will decide; I am just taking a side and hoping!

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