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, 6 December 2012

EURUSD: 3.06pm

It is worth noting that T4 is still pointing uphill and that we have negative divergence now on the 60min SMI cluster.
As mentioned earlier, the break and hold of D1 and T4 suggested D2 would be a likely target and as D3 was so close, maybe that too. D3 was also 127% extension of my proposed expanded flat wave count, so we are in bounce country for sure. A ride back up the underside of D2 would keep the bearish count going and the underside of D5 would be perfect.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)