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, 6 June 2014

#EURUSD #TRADING $EURUSD

Price is hovering around the daily open thus far, but may poke back up to the higher bolly band/yesterday's high again before coming back down. Not a lot of progress since yesterday evening. On the trading chart, it can be seen that the 25day/50day trend cross is in the early flushes of being bullish. Given yesterday's rise was the first real reaction to the drop from 1.3993, I am hoping to lose my long cover (shorts) nearer the lower bolly band, 61.8% retracement of yesterday's move (marked Y0.382 here) and S1 for the day. Not too much to ask is it? If you look back at yesterday's post, you can see this is where the speedlines for that move also sit. The volume study has turned negative and the 1-4hr momentum study is overbought. All looks perfect, but will it be?

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