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 15 May 2014

#EURUSD $EURUSD

Notwithstanding the pump up today, I have covered longs again. If you refer back to my last cyclic phasing post, I was expecting the 80day low on the 23rd May and had calc'd 1.3743 as a likely target. Although I managed to cover too early and am now trying to catch the turn up, price action has pushed on, and appears to be making for the 1.3621 to 1.3560 area in an expanding diagonal. Apologies for the busy chart, but worth keeping in mind. The next few days may see some bumpy action and shorts banked down there will make up for covering too early!
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