Look for discreet overhead resistance as shown. Bulls are coming in force.
Predictive/Forecasting Model will likely churn a precise target level.
Denver, Colorado - USA
NOTE: Prior $AUDUSD Dead-On Hit:
$AUDCAD hit target at 0.97175; New bar eyes lower-prob. 0.97952 target; Bullish:
$AUD $CAD $USD #RBA #BOC #forex
This was one long trade to the TG-Hi. However, remember that based on the "Off-Set Rule", the geometric overlay demands validation of the 1-4 Line.
In the foreground of this is the Predictive/Forecasting Model, which is now remains unanswered by one target at TG-Hix.
I hope you enjoyed this trade from its inception (green square in the field).
There are several things to consider in this nascent Geo.
First, the VISUAL placement of Geo-Anchor. Typically, when one looks back at the Geo-Anchor and imagine to have had the opportunity to place it early as price was still developing, it tends to become obvious that very few choices arise, which is good, since we want to deal with as little a number of choice, so as not to be too confused.
In this case, I can see only one choice, and it is simply directed by the number of validations (see the two pink arrows in the chart, where a lower placement of the SPECULATIVE 1-4 Line offers this "best choice", again simply on the basis of maximal number of validation points. Although this may change in the course of the Geo development, so far, this is all that we have at our disposition, and therefore, this is what we have to consider.
Second, the placement of Point-4. As I have noted before, there can typically be one or two "pseudo-Point-4" positions, simply because the complexity of the 2-3 Leg will tend to have us consider a structure low/high as that pace from which a 3-4 Leg completed, when in fact, the 2-3 Leg is still under development. In my experience, the first opportunity to define a Point-4 often is the fake residence level (see as a RED asterix in the chart).
This means that at this moment, one should be guarded against the temptation to define a final resting point for Point-4 (hence left as an exclamation mark in GREEN in the chart).
Your chart outlines the gist of how to prepare for a Geo, using the 1-2 Leg symmetrical ab = cd, and cautiously testing the loose 1-4 Line as we are still trying to anchor it across that wobbly geometric divide.
Nice pick up on it. I have added below a small refinement of your proposed outline, based on the points discussed. In the background remains a larger Geo, whereas the Predictive/Forecasting Model remains in force and intact, awaiting further validation of its last target. In the context of your chart, it all looks like it is falling in line, promisingly.
Fridays are typically times when markets are torqued and disrupted in such a manner as to stretch the elastic and release it at market's open on Sunday afternoon, so again, this all falls in line.
Have a fantastic weekend, and thank you for contributing to this thread.