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

I edged long into the lows last night but only by a small margin. The price action appears corrective and although I am looking for that turn down towards the 80day low, it appears that another drive up might get closer to that elusive 1.4000! The attached chart shows the 5, 10,20 & 80 day price envelopes, which encompass the trend and range for those durations. A move up to the 1.4000 zone would pull the peaks together and deep into the weekly bollys shown a couple of days ago. The white parallel lines is the 20 day regression and a UTL touch and push is the target. Today's plan is to lose my longs nearer there and let the then unfettered shorts benefit from any downside reaction.
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