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, 25 February 2014

EURUSD

The break through the blue daily & purple 5day FLD this morning followed the backtest of the red 10day FLD yesterday, which was also yesterday's low. I have banked my longs from last night on the approach to yesterday's high and will re-engage if the high gets taken out from last week's high (1.3772).

With the 20day trend (see sub chart) still negative, and with the 80day low (see weekend report) due at the end of the month, I am keeping to the short program until that 20 day FLD (orange ) is hit.

The manner in which that eventual move pans out, will help to decypher this mess, which for now looks like a diagonal - see the range bar study below.
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