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.

Friday, 7 February 2014

EURUSD

The hourly momentum study has reset itself, leaving the 2,3&4hr studies behind. This usually signifies a 'b' wave retracement, but regardless, a break of the 10day FLD now (see green arrows) should be worth taking long, albeit NFP day is fraught with emotion. There is no sell opportunity to consider for me, as the 5/10day and 10/20 day trend bands are in a bullish configuration. Only if the latter turned down again, would I wait for a retracement to sell and that is not going to be today. So either my longs get going or I'll be covered below R1 and the 1.3526 square root line and wait it out.

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