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.

Sunday, 27 July 2014

EURUSD - Pitchfork and momentum analysis

The blue pitchfork is going to get tested to the upside, soon enough, with momentum in oversold. I am looking at the previous lows in price and the momentum lows, and notwithstanding the deafening bearish tones on the EURUSD, I can not see any collapse on this chart yet, just another higher low being formed. However, the pink pitchfork does look broken thus far, so the position of price when this momentum study resets, could be a great short. I think the only price action, the market is not expecting, is something lazer fast to the upside. Now that would be interesting to see how the 'counts' adjust...again!
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