Here is perhaps an opportunity to peel confounding details between the Wolfe Wave and the Geo, using an independent model (Predictive/Forecasting Model).
WOLFE WAVE BASICS:
In its purest form, the Wolfe Wave suggests that upon completion of its 5th plot at Point-5, price is expected to reverse away from the geometry's 1-3 Line and move counter-trend-wise to the geometry's 1-4 Line, ak.a.: its profit line.
The other aspect of the Wolfe Wave is that it exists independent of any geometry, indicator or any advanced or subtle internal constructs. Therefore, Elliott Wave internal developments, Scott Carney's patterns, or Welles Wilder's RSI are simply not needed to confirm the simple completion of the Wolfe Wave ("WW"). It simply is what it is, and once complete, Point-5 becomes a point of counter-trend entry.
In contrast, the "Geo" depends on certain geometric conditions, such as the reciprocal ab = cd symmetry of its 1-2 Leg, as well as Elliott Wave Double-ZZ (DZ) or Triple-ZZ (TZ) internal constructions of its 2-3 Leg, a simple ZZ of its 3-4 Leg, and at time, a cluster of Fibonacci values (1.414 or 1.618 are the most often sought) between these same legs (1-2, 2-3 and 3-4).
"WW" + "GEO" versus "Model"
As a reminder though: Any and all geometries used in my analyses stand in the background as visual support to the Predictive/Forecasting Model ("Model"), which stands as a completely independent actor in defining targets. It's simply that I have found the Wolfe Wave - and later on the refinement of the Wolfe Wave expressed at the "Geo" - as the closest geometries capable to closely spouse the extent of price action defined by the Model.
In effect, the Model will be able to define retracement and reversal levels, but remains incapable to define the bar-by-bar manner by which it will get to these targets. In contrast, the Wolfe Wave suggests the general "envelop" of that action, while the "Geo" defines in greater details intrinsic and predictive clues (1-4 Line as target based on internal rules, such as "Tunneling", "Geo-Anchoring" as external rule such as the Geo's OffSet Rule).
Independent from the geometries, the Predictive/Forecasting Model calls for higher highs attainment, namely the following two qualitative targets:
1 - TG-Hi = 1.27129 - 02 JUL 2015
2 - TG-Hix = 1.28144 - 02 JUL 2015
Whereas, the standard Wolfe Wave would simply call for a reversal at Point-5 and a take-profit along the 1-4 Line. I thought that this $USDCAD would offer the perfect opportunity to decipher and better explain the properties that distinguish Mr. Bill Wolfe's namesake WW and my discovery of the Geo and the development of an independent Predictive/Forecasting Model. All three are complementary and not meant to degrade one against the other - They simply offer a valuable edge that help the trader guard against premature actions.
Predictive Analysis & Forecasting
Durango, Colorado - USA