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 13 May 2014

#EURUSD $EURUSD Elliott Wave count

Whilst price action is deciding on direction, an update on my overall count for the EURUSD. We are a little early for the 80day low to be in, but on my weekly chart (not shown), the 40week low was due in early April. I am therefore assuming that the 80day low could have formed or is likely to, some time soon. With the overall trend being bullish on the daily, weekly and monthly charts (by reference to the MMA waves), and with price continuing to plague the trend line from the all time high, I continue to look for opportunities to be long, although as I say, I could be premature and price is under both the weekly & monthly pivots. Current cover is at 1.3730.
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