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 8 May 2014

#EURUSD

This is my weekly volume study. Price has been running up the UTL of the monthly bollys in what appears to be a contracting diagonal formation, with an ongoing MMA formation holding bullish. However, the OBV study has a very clear trend line with negative divergence appearing in its MACD (this is of the OBV MA, not the price bars) and also the volume study. This is of course a blunt, longer term picture, but is giving me the belief that shorting strength/moves into the monthly bollys is the strategy to pursue, especially given my US dollar EW count in the links to the right.
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