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 16 May 2014

$EURUSD #EURUSD

The rise up yesterday counts as 5 waves on the 6 pip range bar study and this action overnight looks corrective. The expanding diagonal thought yesterday does not look right with 5 waves up, so staying conservative with an 'abc' correction after the drag down, which I'll call 'A'. Looking for price to come down to the 50-61.8% zone of yesterday's rise, to lose shorts and ride longs up further.
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