"TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. … There is a definite relation between TIME and PRICE. … Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. … The most money is made when fast moves and extreme fluctuations occur at the end of major cycles."

Forcasting by Time Cycles Course

W.D. GANN

Sunday, 10 March 2013

MARCH 11, 2013 EUR/GBP



Few words about EUR/GBP

  • On Monday both Moon and Sun will be in Pisces which is a Mutable and Water sign. What we should expect from this combination? Mutable signs tend to create changes. On the other hand water signs full of emotions which can cause up and downs. When we look at Lunar and Solar Cycles we see similar situations to these astrological expectations. Solar Cycle expects a top around 20 degrees of Pisces which will be Asian Session of the market. Lunar Cycle predicts a swing high on March 12 and some drop before this within March 11.
  • Technically on Daily and Hourly charts bearish divergence occurred. It looks we are around the days of a topping formation. These levels are resistance levels so soon we can see some down move or erratic side-lined movement on upcoming days.
  • When we look the price chart on Harmonic Elliott Wave logic we can see that current movement to upside still looks impulsive and a final high is still waiting on the mid-term.

Best strategy should be to stay away from this market on Monday.  If price cannot go to new highs it is worth considering to short after mid-tuesday.




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