Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
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, 6 February 2014
EURUSD
De cyphering these FLDs is worth the effort in my view. Price has not yet crossed the 10day FLD, having bounced hard from the 5 after Claims. Even if price does cross it, where would the 5day and 20 day FLDs be in respect of matters - somewhat below, I would say. There are only two ways price can get back to those FLDs: either go sidewards and wait for the FLDs to catch up or go back and collect them. In this particular situation, the 10day FLD is near vertical and even a 'cut' up might result in a quick descent the other side to pick up the 5day FLD. Staying flat!
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