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.

Wednesday, 11 June 2014

#eurusd $eurusd #trading #elliottwave

Well, on Monday, price rejected this line, higher up, but here we are again. The count looks okay but in time, it seems out of proportion to the move up from 1.3501. No matter for now. A break here, will be an attempt at an exit from the bearish Fibo grid from last week's hi/lo range. Price will have to move above the monthly open price of 1.3635, to enter the bullish grid, and there is a vacuum from here to there. Just gotta sit back and watch.
 
The price envelope of the 24pip range bars had held bullish (see blue bar in chart) throughout this whole move down and the momentum study has only just turned up. It was a slow turn, but the fibo extensions sit hopefully above.
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