4xForecaster

#Aussie Hit Target @ 0.87038; Potential Retrace To 0.90941 $AUD

FX:AUDUSD   Australian Dollar/U.S. Dollar
600 8 3
Friends,


$AUSUSD proved to carry more bearish strength, as price moved directly to its primary target at TG-1 = 0.87038 - 24 SEP 2014, and ignored an anticipated TG-Hi interim.

However, at this point, price has returned to the upper half of its bar after hitting TG-1.

A retracement to TG-Hi remains probable, although a higher target at 0.90941 becomes a loftier possibility followng the current completion of a Scott Carney's Bullish Shark pattern, which opens the geometry up to the same author's 5-0 pattern.

David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


----------
Twitter: @4xForecaster
---------
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
Gino
2 years ago
I think it's rocking towards the .90 my friend.
+1 Reply
Hi David, Where do you see potential upside target, once it materializes? Thanks, Hamed
Reply
20 NOV 2014 - FUNDAMENTAL UPDATE:

Major Bank FX Positions


L/T: none

M/T:
- Short: 2
- Long: 0

S/T:
- Short:1
- Long: 0


David Alcindor
Reply
22 NOV 2014 - Update:

From Twitter:
----------
$AUDUSD hit target @ 0.85516; Holds activity up; Eyes rallying to 0.90287:

snapshot


via @tradingview | $AUD $USD #forex
----------


snapshot



David Alcindor
Reply
27 NOV 2014 - Update:

From Twitter:
----------
$AUDUSD completes geometry at Point-5; Favors Bulls; Target intact:

snapshot


via @tradingview | $AUD $USD $XAU $Gold #forex
----------


snapshot



David Alcindor
Reply
30 NOV 2014 - Update:


================================
Re-post of a comment that includes this Forex pair:
================================


Hello @kmk.msp - Yes, I posted this a few days ago in here I believe. Point-5 usually needs to touch its 1-3 Line, but a 5-prime or 5-second do not have to occur. The pattern most often completes a 5-prime (I woulD estimated empirically about 60% of the time. Again: Empirically speaking), whereas the 5-second would occur up to/less than 10% of the time, empirically speaking).

Look for weakness in the $USD index ($USDollar) which is the US currency measured against a basket of major currencies. A decline in this $USDollar index will suggest a Forex-wide strengthening of currencies expressed against the $USD.

Instead of the $USDollar index, one could also look at other important pairs where reversal set up could be occurring. Here are a few of them I had posted recently:


$USDJPY - 4-Hour Chart: Here, the $Yen's weakness pushed the $USD to its target @ 188.83. A reversal is very plausible:
snapshot



$USDJPY - Daily Chart: In this wider chart, a target was defined near 116.xx, falling short of a 5-second point validation:
snapshot



$USDollar - Weekly Chart: Here, the Index rallied, but surpassed a 11218 target, underlining the strength of the $USDollar, which is most likely animated via the $Yen weakness:
snapshot



It is widely believed that fundamental problems in Europe and EM will force major and secondary markets to devalue their currencies (something I wrote about several months ago in support of the $USD strengthening), which will reflexively prop the $USD up, since most of these markets are expressed in Dollar pairs.

However, I also believe on a pure technical basis that a relief will need to occur on the Dollar side, in the form of a significant correction (i.e.; a "relief rally" in the counter-currencies).

If this were to occur, it could support the WW completion towards the $AUDUSD's 1-4 Take-Profit Line, as well as prop the $BTCUSD as is widely expected at the moment, and lead to a significant devaluation of the $&P-500, as is expressed in its CME's $ES, since it too reached a significant landmark:


$ES - 4-Hour Chart: ES reached a significant 1.618-Fib extension level at 1074.00:
snapshot



David Alcindor


(I will cut/paste this reply in the threads where the Forex pairs are)
D.
Reply
02 DEC 2014 - Update:

From Twitter:
----------
$AUDUSD - Awaiting WW's 1-4 Line validation; Model approximates 0.83848:

snapshot


via @tradingview | $AUD $USD #forex #RBA
----------


snapshot



David Alcindor

=================


Traders,

A few days ago, pattern completed Point-5 as price reached the 1-3 Line. However, as Bill Wolfe's Wolfe Waves pattern would have it, price pushed further to attempt a yet deeper validation of the 2-4 Line projection off of Point-3. This would effectively define Point-5-prime.

It appears that this level would occur around 0.83848.

Keep an eye on this one.

Cheers,

David
+1 Reply
08 DEC 2014 - Update:

From Twitter:
----------
$AUDUSD completed WW's Point-5-second; High-probability reversal at its highest:

snapshot


@tradingview | $AUD $USD #forex
----------


snapshot



David Alcindor
+3 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out