Indeed, so far the "Expected Reversal Zone" did the "Expected" part of its name. An intermediate TG-int = 960.4 reflects a level of probable resistance (i.e.: expect some significant consolidation occurring at that level).
As mentioned before, the decline that has occurred has more to do with Stop-Loss hunting than a directional reversal. Based on our methodology, the directional bias remains intact (i.e.: Bullish), and no preliminary reversal signal has been generated at this point.
OVERALL: Bullish trend remains intact; structural levels (i.e.: recent highs are likely hurdles for any subsequent rally, with some of the most notable overhead resistance defined in the chart.
Cheers,
David Alcindor | 4xQuad.com
Comments
TheChasm
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So tell me 4xforecaster where do you think the price will go from here at the 960 level?
4xForecaster
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@TheChasm - Sorry for this late reply. About 4-hour prior to your query, an "intermediate" target was produced, eyeing 989.27 as a probable Bullish target. Conditions for all targets above structures is that they have to break the structure highs. Here, structure high is 980.59 - David Alcindor
bittyview
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Nice call, good analysis. Maybe get rid of the RSI? Just clutters up your lovely clean chart.
4xForecaster
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Hello @bittyview - Your suggestion is appreciated. Other traders asked for more indicators on top of thr RSI and the overlapping volume. We decided to keep it as uncluttered as possible while maintaining the technical information as widely acceptable to most traders - Cheers, David Alcindor | 4xQuad.com
flibbr
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But all the way to 1190 ? I think you got this one wrong, same with the '279' call you were making before.
@flibbr - I appreciate your feedback. Our clients make money from the signals we release to them. The calls we make are generated from a system, and quite often (more than not), we would want to trade against the direction pointed by our forecasting methodology.
However, we have hit more than 90% of our forecast, affording our clients a service that provides not only a up/down direction at entry, but also a safe exit target.
If you do not agree with our directions or targets, and perhaps believe that we misdirect or lead traders into errors continually, I urge you to report me and 4xQuad to TradingView.com's Admin.
It will then be our responsibility and eagerness to prove the correctness of our directional calls as well as accuracy of our entry and exit targets.
In the mean time, please do warn other traders against possible frauds and inaccuracies about which ever trader that do provide free trading advice, and make sure to not follow their direction if you believe you would incur a loss.
In the mean time, feel free to review our directions and targets and verify whether we deserve to fall into that fraudulent category.
Cheers,
David Alcindor | 4xQuad.com
flibbr
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Yeah I've said it before, you hit ratio is good. Whatever your system is, send me the source code. :)
4xForecaster
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Thank you @flibbr. Very flattered, but we will keep the recipe under seal. Cheers, David