4xForecaster

#BitStamp Tending To 260 Forecast; Geo Offers Support #fibonacci

BITSTAMP:BTCUSD   Bitcoin / Dollar
In a prior predictive analysis/forecasting, the technical reasons where outlined to support a reactive rally to the 260.00 see prior analysis here:
A Quick Technical Lesson | $BTC #forex #elliottwave #bitcoin
.)

At this point, the expected rally towards 260.00 remains in force, as price surged and carved a higher high, and is now likely to have found that once-resistance/now support in the geometry's 1-3 Line.

The Fibonacci scale highlights correlations with the foreground geometry, wherein its 1.414 represents its reversal level at the geo's 5-prime, its 1.000 highlights the geo's conservative trigger level, namely Point-3, 0.618 defines the approximate level of Point-4, which defines a high-probability of attainment, whereas the most distal, at 0.786 represents a possible Cypher completion level.

These levels are likely to be visited at the probability rate defined here, but the overall picture remains submissive to bearish whims, per Predictive/Forecasting Model.


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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Twitter:
@4xForecaster

LinkedIn:
David Alcindor
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Burrmarket
2 years ago
Good lord man.
Reply
CryptoPumper
2 years ago
Hope you are right
+1 Reply
4xForecaster PRO
2 years ago
22 APR 2015 - Update:

From Twitter/LinkedIn:
----------
$BTCUSD validates innards of geo; Predictive/Forecasting Model remains intent on 260:

snapshot


$BTC $USD #bitstamp #bitcoin
----------


snapshot



David Alcindor
+1 Reply
Tdot 4xForecaster
2 years ago
Hi David,
I'm trying to understand your predictive forecasting and my question is - What action/price would invalidate this setup? For the simplicity, could you use your last chart as an example?

Sorry if you already explained this somewhere and thank you for your help with this.
+1 Reply
4xForecaster PRO Tdot
2 years ago
Hello @Tdot,

First, to be clear, this exercise in market geometries has nothing to do with predictive/forecasting, which is a separate topic and requires the use of a model. Instead, we are looking at a geometric figure stretched over 5 points (1, 2, 3, 4, 5) with components (Lines 1-3, 2-4, 1-4 and ectopic points 5-prime and 5-second) that have a simple and consistent relationship to the whole (entire 5-point geometry) and its parts (lines and ectopia).

What I recommend is to simply draw the triangle that emerges from the 1-3 and 2-4 convergence, draw the 1-4 Line that connects points 1 and 4; then cut/paste the 2-4 Line so that it originates off of point-3.

What you have at this point is a "turn-key" pattern that will "speak" to you in the simplest terms possible. For instance, once price reaches the alignment of the 1-3 Line, it will define therein its final 5h coordinate as Point-5.

If price tends to excurse beyond that level, then see what it does it relation to the 2-4 Line that is projecting off of Point-3, and consider using that line as a reasonable visual for a reversal (whether you decide to use an actual stop-loss in your trading is a decision that is entirely up to the trader, since it may variably impact any trader's risk management).

Best practice would be to simply WAIT for a NEW candle/bar relative to the one that hit the 1-3 Line and defined Point-5. This allows the trader to gauge the development of price action relative to that Point-5, and see whether price incurs an adverse excursion (i.e.: wandering off and opposite to the desired direction).

Once price reverses back towards the 1-3 Line, I recommend to WAIT until this particular returning candle/bar closes across that 103 Line and not before, as crossing without closing would NOT do.

Once the crossing over and a NEW candle emerges, then a signal is emitted by this geometry, and a SL should be contemplated at the opposite end of the price action that wandered off, since this reflects the furthest price ever wandered.

The rest is simple a wait and see game, waiting for price to hit the 1-4 Line.


David Alcindor
+5 Reply
Tdot 4xForecaster
2 years ago
David,

This explanation is better than I could hope for. Thank you kindly for all of your effort.
Stay well,
Mario
+3 Reply
sprks55 Tdot
2 years ago
.. I 'l a little lost.. any thoughts on short term momentum in relation to bear trend ? thanks !
+1 Reply
4xForecaster PRO sprks55
2 years ago
Hello @sprks55 - I avoid analyses at the smaller levels, as they are not as consistent. I follow the large moves from large players at large timeframe levels, since they provide the definitive chucks of data my Predictive/Forecasting Model likes to chew on.

David
+3 Reply
Jameve 4xForecaster
2 years ago
David,

Check out the weekly chart! Things are really getting to a boiling point here. Price kinda trapped between $215 and 230 until a breakout or breakdown which should be a large move. This weekly candle looks to be quite significant.

snapshot
+1 Reply
Jameve Jameve
2 years ago
btw this is just a recreation of your weekly chart
Reply
MFB Jameve
2 years ago
Looks like last week's candle closed above your trendline. This could be interesting. Perhaps this week's candle will as well.
Reply
4xForecaster PRO Jameve
2 years ago
Yes, wedging is getting tight - David
+2 Reply
4xForecaster PRO
2 years ago
08 MAY 2015 - Update:

From Twitter/LinkedIn:
----------
$BTCUSD continues to carve out higher highs and higher lows; Eyes 260.00 forecast:

snapshot


$BTC #bitcoin #bitstamp #forex
----------


snapshot



David Alcindor
Reply
4xForecaster PRO
2 years ago
08 MAY 2015 - Update/TECH-NOTE:

Looking at the entire price movement, the Geo trader needs to heed a larger system, one that engulfes the current geometry without invalidating it, while adding credence to the bullish targets.

In such a case, then Point-5 of such a larger system would place price to a lower lever in relation to larger geo completion - See following chart:


snapshot



David Alcindor
+1 Reply
4xForecaster PRO 4xForecaster
2 years ago
ADDENDUM - Tech-Note:

What I have added in the chart are:

1 - Geo Anchor (blue asterix), which is a concept I have defined as a quasi-conditional feature to define the best possible slope of the 1-4 Line
2 - A 1-4 Line that rises towards the defined targets.
3 - Tunneling, which remains a bit broad here. By tunneling, we are referring to the seemingly deliberate clearing of a visual path, through which the 1-4 Line is likely to project.

Implied, but not defined in the chart is the expected position of Point-4 of the larger geo, which by definition would occur upon price crossing the 1-3 Line of the larger geo. Using the high-probability that most of these Geos wil define a 5-prime point, then it becomes reasonable that once the 2-4 Line is defined in terms of a slope, that its projection off of Point-3 will help approximate the bearish depths to be reached, if ever.

Stay tuned,


David Alcindor
+1 Reply
itsheng 4xForecaster
2 years ago
Hi David,

Thanks for posting the update. I am looking at a smaller WW Geo. Is this more relevant to what's going to happen in the short term? Thanks!

snapshot


Sheng

+2 Reply
4xForecaster PRO itsheng
2 years ago
Hello @itsheng,

There are a few rules about the Geo that may help screen through possibilities, so as be left with a fewer probabilities. One of the feature I like to believe may be of relevance more often than not are as follows:

1 - The 1-2 Leg is often a symmetrical ab = cd construction;
2 - The 2-3 Leg is often the longest and most complex internal skeleton of the Geo, expressed often as a W-X-Y-XX-Z zig-zag
3 - The 2-3 Leg often offers a near-midway inflection acting as an anchor ("Geo Anchor")

So, looking at your construction, one think that comes to sight is that your 2-3 Leg is too simple. Whether it ends up being the right construction or not is not a point to argue, as much as staying suspicious of too-easy an appearance, since most traders, especialy the pattern traders, will chase after the simpler symmetrical expressions, such as the ab = cd. However, this is often (not always) one pattern that we would let the 1-2 Leg own, while we would remain suspicious of any such development within the 2-3 Leg.

So, keeping an index of suspicion high, the following is what I would be willing to keep watching ... :


snapshot



Next, I would look at the possibility of deciphering an early "Tunneling", since we have a Point-1 and a potential candidate for a Geo-Anchor (asterix) in the given, albeit unfinished field, as follows:


snapshot



In this HIGHLY speculative illustration, I have left a question mark by Point-3 and Point-4, simply because there are yet too many unanswered geometric questions, such as the potential levels of 1-4 Line with their respective "Tunneling", as well as the fact that Point-3 can still find a higher residence, then cause price to roll further down than the lower side of the Geo, to carve out a nadir at Point-4.

So, looking for a geometry at this point would be too premature. Still, there is the one that you posted, which could work as an internal Geo, but a larger Geo would justify the rules outlined above.

Best is to trade the Geo as soon as you see a potential completion and reversal past the 1-3 Line in direction of the 1-4 Line.

In the case of your Geo, you did very well by pointing at the potential SHORT opportunity right as price crosses the 1-3 Line in the direction of the 1-4 Line.

What I would add is a DASHED line that is parallel to the 2-4 Line, but originating off of Point-3. This will help you define an objective level of Stop-Loss, since this level is OFTEN validated as price tends to exceed Point-5, and in this process defines the ectopic position of Point-5 as "point five prime", or simply Point-5'.

It looks like in your illustration would be doing this, except that your dashed line is NOT a parallel of the 2-4 Line, and it does not originate off of Point-3, but off of Point-1 instead. This is a VERY important geometric consideration, as in my experience, the probability of ectopic point-5 are as follows:

1 - Point-5' = Most common (Parallel of 1-4 Line originates off of Point-3 and acts as a Stop-Loss to price)
2 - Point-5 = Second most common
3 - Point-5" = Least common (Parallel of 1-4 Line originates off of Point-1 and acts as a Stop-Loss to price)


Keep posting them, and make sure to use dashed for ectopics, and dotted lines for 1-4 Line, just so as to keep the "visual vocabulary" the same across any chart. This will not only make the illustrations easy to describe, but most importantly, it will offer necessary repetitions to the mind's eye, so as to engrain and chisel the overall movements and make it become a second nature to the otherwise untrained eyes.

Great Geo you posted.


David Alcindor
+3 Reply
itsheng 4xForecaster
2 years ago
Hi David,

Thanks again for another fabulous reply! Greatly appreciated! I have incorporated most of your comments into this chart as a note for me and others. Hope you don't mind. I will need to read more on your comments around Geo Anchor and tunneling. A quick question related the anchor, should it be a high in the midway of a rising 2-3? Or it can also be a low in the midway? Thank you!

snapshot


Regards,
Sheng
+1 Reply
4xForecaster PRO itsheng
2 years ago
Hello @itsheng - I am glad this is all coming together for you.

Any high or low should do. I have not really looked at what occurs the most, but so far it has not made much of a difference. Great question, though.


David
+1 Reply
Chartistry PRO
2 years ago
Hi David,

It seems as though the recent price action has not swayed your position. At this juncture, what support level needs to be broken in order to turn this bullish scenario into a bearish one?
+1 Reply
4xForecaster PRO Chartistry
2 years ago
Hello CryptoChartist,

I am not seeing what you are seeing.

I am seeing higher-highs, higher-lows, all in succession to one another at a steady tempo, getting ever closer to the target:


snapshot



snapshot


In addition, the longer-term chart has broken its upper trendline, which is the "Spine" concept I have discussed before, suggesting that the Elliott Wave 3rd Wave impulse has been broken, and price is readying into a Elliott Wave corrective 4th wave. The end-product of this cycle is a completion of the EW at a lower value, as defined in the chart.

So far, price has remained in step with the forecast, and there has been no adverse excursion that have diminished the probability of the targets. Perhaps some material event occurred that is still escaping me.

In sum, price has carved out incremental ascensions towards targets, with retracement that would not break prior higher-lows.

If there was a discreet structural event to look for that would certainly invalidate this whole premise, then I would look for a lower-lows, something that has not occurred of late.

Feel free to elaborate, as I am not immune to biases, although the Model does do the thinking for me, and all that I am describing is mere observation of the recent structural activities, as described.


David Alcindor
+1 Reply
4xForecaster PRO 4xForecaster
2 years ago
Addendum: Here is the pink arrow pointing out to the "Spine" which has kept the bearish impulse in check along the way:


snapshot



The rectangle is merely highlighting the break of that Spine, which would tend to herald a conversion from an Elliott Wave impulse ("IMP") to an EW correction ("COR").


David Alcindor
+1 Reply
manipuflated 4xForecaster
2 years ago
I think that last dropped just scared the hell out of ppl, so we turn to the master for guidance. ;) I need to practice looking more at the zoomed out version. These 200-300 swing chopping can really eat into ppl who over trade, that's for sure. The % swings are so big now. Both big profits for some and big losses for others going on.
+1 Reply
4xForecaster PRO manipuflated
2 years ago
@manipuflated,

I appreciate the vote of confidence by requesting some insight from the Model, but there are simple, steadfast rules that are worth keeping nearby, one of which is the structural analysis of price action.

Simply put, there are two possible trends: An impulsive or a corrective trend, but each will carve the exact same highs/lows, lower-lows/highs or higher-lows/highs.

An exercise worth doing is to color-code the moves, such that bullish advances are kept in GREEN and bearish advances are kept in RED, and threats are in ORANGE ... A threat would correspond to a price action that is still moving below a GREEN and above a RED.

So, a simple structural rule would go as follows:

GREEN = A new higher-high

RED = A new higher-low

ORANGE = A pending break of GREEN or RED.

The chart would thus look as follows:


$BTCUSD / #BitStamp - 2-Hour Chart:
snapshot



$BTCUSD / #BitFinex - 8-Hour Chart:
snapshot



$BTCCNY / #BTCChina - 4-Hour Chart:
snapshot



As in any structural strategy, and given an UP-trend, the break of a prior low would constitute an EARLY signal for a potential reversal, whereas a break of a prior high would confirm a continuation. In such a case, the Stop-Loss would be moved below the unchallenged recent low (higher-low).

Without any indicator, quant-model or any fancy or obscure patterning, structural analysis should allow any trader to predict a potential trend reversal, simply on the merit of structures (highs, lows, higher-highs/lows, lower-highs/lows), regardless of the segment (in terms of Elliott Wave) or pattern price is occurring.


David Alcindor
+5 Reply
Chartistry PRO manipuflated
2 years ago
Precisely, he puts things into perspective.

Thank you David, I tend to have the bad habit of over trading and looking at things at a more granular level. Should definitely stick to looking at the 4h and Daily charts.
+2 Reply
4xForecaster PRO Chartistry
2 years ago
@CryptoChartist ,

Yes, most of the institutional players will move price drastically. This is one of the premise in my analyses, where if something does not go as planned (i.e.: a forecast is missed at a particular timeframe), then something of a larger nature must have been going on that interfered with the plan.

My rule of thumb is that I take a 4-fold step-back perspective from the current timeframe, such that if I were at a 15 minute timeframe, then 15min x 4 = 1-hour timeframe, and 1hr x 4 = 4-hour TF, and 4hr x 4 would simply be elevated to a DAILY timeframe, and a daily x 4 approximates a 5-day trading of a weekly cycle, and 1-wk x 4 = 1 month.

However, I rarely dwell at the M15, except to calibrate some of the analyses. 4-Hour timeframes are what I consider "synthetic" timeframes, in which both retail traders (typically dwelling at the M14, H1 and some at H4) and institutional traders (H4, daily and 5-day dwellers) meet.

So, the charts I have posted in Bitcoin are kept at that level so as to maintain this "synthetic" perspective in sight.


David Alcindor
+4 Reply
iefan PRO
2 years ago
15 MAY 2015

$BTCUSD

Hi David. Could the present decline be due to this internal WW geo?

snapshot
+1 Reply
4xForecaster PRO iefan
2 years ago
Hello @iefan - Looking at the 120-Min view, I would be tempted to use the outcrop above point-5 as Point-3, and the recent down-spike as Point-4.

Lookin at internal construct:

1 - The 1-2 Leg has its own symmetry (sort of a reverse symmetry - do you see what I am talking about?)

2 - The 2-3 Leg is typically a complex ZZ, such as a Double-ZZ or Triple-ZZ. Using the plots I have suggests above, you will end up with the complexity that characterizes this leg without compromising the entire elan.

3 - The 3-4 Leg is often a simpler symmetry, which by using the plots I have suggested above will provide this simpler construction of this leg.

4 - The 4-5 Leg need not be dependent on any internal construction, as much as it would require a Fibonacci cluster in terms of extensions, using the following keys:

a - 1.121
b - 1.272
c - 1.414
d - 1.618

Here is a visual along with an update just posted:

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

15 MAY 2015 - Update:

From Twitter/LinkedIn:
----------
$BTCUSD: Refinement on probable targets; More tech-notes in discussion thread:

snapshot


$BTC $USD #bitstamp #bitcoin #forex
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snapshot



David Alcindor
+2 Reply
4xForecaster PRO
2 years ago
22 MAY 2015 - Update:

From Twitter/LinkedIn:
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$BTCUSD / #BitStamp remains S/T Bullish, M/T Bearish; Intent on 260 where bears await:

snapshot


$BTC $USD #bitcoin #forex
----------


snapshot



David Alcindor
+3 Reply
manipuflated 4xForecaster
2 years ago
Hi David,
Do you still see 260 in the current geometry?
Reply
Jameve manipuflated
2 years ago
Usually when David doesn't have an update to post it means nothing has changed, so I assume he's still thinking bitcoin is in interim rally mode...but I'm skeptical of that. Bears have really been testing the patience of bulls that's for sure. The low volume and failure to rise in the 230s/240s indicates a lack of interest in bitcoin as of late.

snapshot


Also this weekly trend line is really slipping now. The weekly candle closes tonight! Furthermore DrewR's classic EMA crosses signal came in on the daily.
Reply
Jameve Jameve
2 years ago
Teetering on the edge of a big breakdown
Reply
G_Man Jameve
2 years ago
i still see this as a post April 2013 scenario, flatness and ranging until we move later in the year... we died on high volume already, now we just have no real volume either way... although there were some buy spikes indicating support recently after the dumps, and no new low yet... watching closely, ofc ;)
Reply
Chartistry PRO
2 years ago
Hi David,

Any words on the direction of bitcoin? Has the recent price action changed the target of 260?
+1 Reply
4xForecaster PRO Chartistry
2 years ago
No change. Elliott Wave's Rule of Alternation is time consumptive, strategically erosive to small-frame traders.

David
+4 Reply
Jameve 4xForecaster
2 years ago
That's what I thought! Price action has been a lot of never-ending low volatility chop lately...definitely not pleasant market conditions to trade in!
Reply
4xForecaster PRO
2 years ago
08 JUN 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD tests pivot level at 229.67; mulls traverse; Predictive/Forecasting Model remains BULLISH:

snapshot


$BTC #bitcoin
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snapshot



David Alcindor
+1 Reply
4xForecaster PRO
2 years ago
16 JUN 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD remains intent on 259.91target as per Predicitve/Forecasting Model:

snapshot


$BTC #bitcoin #bitstamp #forex $USD
----------


snapshot



David Alcindor
+2 Reply
eYou 4xForecaster
2 years ago
David, do you expect first a re-test of the pivot level at 229.67?

Because, I can see a "Kiss-Of Death pattern" on the 240-level between 15 May and 15 June.

Your 229.67 level is a Fib depth of 50%.

Thank you for your chart and update!
+1 Reply
4xForecaster PRO eYou
2 years ago
Hello @eYou,

Forecast remains intent on targets as defined in original analysis.


snapshot



David
+3 Reply
bitsunrise 4xForecaster
2 years ago
Hi David. Do you see us going to the second target of 279.13 ? Fantastic forecast as usual! Thanks
+1 Reply
Chartistry PRO 4xForecaster
2 years ago
Dead on hit...Bitfinex high 259.91...**applause**
+1 Reply
Chartistry PRO Chartistry
2 years ago
259.1*
+1 Reply
manipuflated Chartistry
2 years ago
I don't think she's done yet.
+1 Reply
Macainian Chartistry
2 years ago
This is a chart for BitStamp. The target has yet to be hit.
+1 Reply
4xForecaster PRO
2 years ago
16 JUN 2015 - UPDATE:

Based on te Geo's "OffSet Rule", Price has NOT attained its target, which rests at the price level corresponding to Point-4. For this reason, expect that the spike that occurred today points to the directional intention of price, but that it may not yet represent an exhausted rally.

Bulls have to climb that bloody murk of a hill and tend to long-term wounds.

However, looking at the longer term analysis, bears remain in charge. This means that on a short-term basis, bulls might be capable to bayonnette their way up the slippery slope, but bears have the upper hand, still.

A clear break above 297.95 would change the story.


David Alcindor
+4 Reply
4xForecaster PRO
2 years ago
20 JUN 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD weaves a potential Wolfe Wave as price mulls imminent rally into bullish targets:

snapshot


$BTC #bitcoin Bitstamp
----------


snapshot



David Alcindor
+3 Reply
itsheng 4xForecaster
2 years ago
Hi David,

At a smaller time frame, it says the same thing?
snapshot


Regards,
Sheng
+1 Reply
4xForecaster PRO itsheng
2 years ago
Hello @itsheng - This is one that I would consider having a lower probability, simply because it takes its shape off of the impulse move immediately to the left. However, it does line up quite well. It's just a matter of probability. If it occurred in the middle of a larger consolidation, then it would carry a higher probability.

David
+2 Reply
G_Man 4xForecaster
2 years ago
when I see a wolf wave like that within a larger structure, I generally consider the targets provided as "waypoints" to be touched on in larger moves. So perhaps the target will provide resistance or a reaction, but if the larger structure demonstrates room for movements beyond then I expect that to be a higher probability.

I have found using wolf waves in forex on 3min timeframe particularly helpful in this way. Thanks. G

+1 Reply
4xForecaster PRO G_Man
2 years ago
Hello @G_Man - Yes, assuming that a WW carries a higher probability than a standard Scott Carney's pattern, then also assume that a nascent WW is likely to come to completion.

An alternate to WW is what I have described as the Geo, which comes with a specific set of internal geometric conditions. One of the trickiest aspect of a developing WW/Geo, especially if 1) it is on a much larger scale than a smaller one nearing completion and 2) the 2-3 Leg of the larger one is developing, is that it can take quite some time, simply because the 2-4 Leg construction is often reflecting an internal Elliott Wave complex zig-zag ("ZZ"), such as a Double-ZZ or a Triple-ZZ - (see free courses on Elliott Wave and pdf cheat sheet at http://www.ElliottWave.com for the professional referral source of this trading methodology - Mr. Robert Pretcher runs this site and is the only recognized professional source).

David Alcindor

+1 Reply
4xForecaster PRO
2 years ago
26 JUN 2015 - UPDATE:


From Twitter/LinkedIn:
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$BTCUSD: High-probability support at geometry's Pt-4; Model still bulish; Targets intact:

snapshot


$BTC #bitcoin #bitstamp
----------


snapshot



David Alcindor
+3 Reply
4xForecaster PRO
2 years ago
29 JUN 2015 - UPDATE:

From Twitter/LinkedIn:
----------
#bitstamp hit target as forecast at Pt-4 of prior Geo (Offset Rule); Larger Geo imposed 1-4 Line resistance:

snapshot


$BTC
----------


snapshot



David Alcindor
+2 Reply
4xForecaster PRO 4xForecaster
2 years ago
(finally)
+5 Reply
4xForecaster PRO 4xForecaster
2 years ago
ADDENDUM - Watch for 1-4 Line imposition from the larger (BLUE) geometry potentially developing in background:


snapshot



David Alcindor
+1 Reply
Macainian 4xForecaster
2 years ago
Hey David, can you explain that a little more? I am not sure what you mean exactly.
+1 Reply
Macainian Macainian
2 years ago
Oh and please and thank you. : )
+1 Reply
4xForecaster PRO Macainian
2 years ago
Hello @Maainian,

In contrast to the Wolfe Wave, whose completion at Point-5 calls for a reversal to its 1-4 Line, the Geo offers a high-probability target through its OffSet Rule, which states:

WOLFE WAVE RULE:
- If price reverses from Point-5, it will seek to attain the 1-4 Line of the geometry.

OFFSET RULE OF THE GEO:
1 - If price reverses from a 5-prime position, a high probability target rests at the price level corresponding to Point-4

and

2 - If price reverses from a 5-second position, a high probability target rests at the price level corresponding to Point-3.


In the following chart, price rose from a 5-prime position:
snapshot


Per the OffSet Rule, it rose to the price level corresponding to Point-4, which is the target attained today:
snapshot



What is also developing at a larger scale is a Wolfe Wave (BLUE plots), whose 1-4 Line may help define the extend to which price could rise:
snapshot


I have used the "Geo Anchor" rule to APPROXIMATE the probable slope of this 1-4 Line - The Geo Anchor uses a structural level (i.e.: higher-high or lower-low) PREFERABLY within the 2-3 Leg of the developing geometry - Here, the anchor is lent through a structure along the 3-4 Leg instead, while Point-4 remains speculative:
snapshot



David
Reply
4xForecaster PRO 4xForecaster
2 years ago
Kapish?
Reply
kurta007 4xForecaster
2 years ago
David great analysis as always ,what is your next target ?
+1 Reply
Macainian kurta007
2 years ago
I am going to guess that the next target is 235ish for the short term, but 200ish for the medium term.
+1 Reply
4xForecaster PRO Macainian
2 years ago
Hey, that's a really good guess @Macainian - See updated chart.

David
+1 Reply
4xForecaster PRO kurta007
2 years ago
Hello @kurta - Just posted a cleaned up version of above chart, focusing solely on the smaller (grey) geometry for now.

Bears still have the upper paw.


David
+2 Reply
4xForecaster PRO
2 years ago
29 JUN 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD likely to retrace to Pt-4 level per OffSet Rule; Bears still in force:

snapshot


$BTC $USD #bitstamp #bitcoin #forex
----------


snapshot



David Alcindor
+3 Reply
wonky_tonky 4xForecaster
2 years ago
thats an abc down then to 240 zone?
+1 Reply
4xForecaster PRO wonky_tonky
2 years ago
Hello @wonky_tonky - What do you mean by abc?

Feel free to post a chart as a visual reference.

David
+1 Reply
ambition1 4xForecaster
2 years ago
snapshot
Hi David, June candle is Green, Engulfing candle entity three months prior. BULLISH?
+1 Reply
4xForecaster PRO ambition1
2 years ago
Hello @ambition1, Yes, on a pure candle reading basis, this could be interpreted as a bullish signal. Volume comes into play in that candle as well; It will meet significant headwinds ahead whenever it ever reaches the base price level of the 6-8 preceding candles.

David
+1 Reply
4xForecaster PRO
2 years ago
01 JUL 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD / #bitstamp declines as forecast; Eyes support at 240.50:

snapshot


$BTC #bitcoin #litecoin #forex
----------


snapshot



David Alcindor
+1 Reply
bitsunrise 4xForecaster
2 years ago
Sweet spot!
+1 Reply
4xForecaster PRO
2 years ago
02 JUL 2015 - UPDATE:

From Twitter/LinkedIn:
---------
$BTCUSD / #bitstamp carves out lower lows; Still eyeing 240.50; Bears in charge:

chart
snapshot


$BTC $USD #bitcoin #forex
----------


snapshot



David Alcindor
Reply
4xForecaster PRO
2 years ago
02 JUL 2015 - UPDATE:

From Twitter/LinkedIn:
----------
$BTCUSD / #bitstamp DAILY chart offers a bird's eye view of the bearish probability:

snapshot


$BTC $USD #bitcoin #forex
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David Alcindor
+2 Reply
devlspawn 4xForecaster
2 years ago
Hey David, you really are a wizard, thanks for doing these posts for us. Really hope I can learn enough from your information before the inevitable day when it stops :) You should write a book.
+2 Reply
4xForecaster PRO devlspawn
2 years ago
Thank you @devlspawn. I don't plan on stopping though. Started in 1997. Still going.

David
+2 Reply
ambition1 4xForecaster
2 years ago
Hi David, are you still bearish? to 200?
+1 Reply
4xForecaster PRO ambition1
2 years ago
Hello @ambition1 - Just posted an update.

David
Reply
4xForecaster PRO
2 years ago
06 JUL 2015 - UPDATE:

From Twitter/LinkedIn:
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$BTCUSD/ #bitstamp validates 5', calls for Geo's Off-Set Rule: Eyes 204.50 as high-prob target:

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$BTC #bitcoin
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David Alcindor
Reply
Macainian 4xForecaster
2 years ago
Just an FYI in case you had to double look, it is 240.50 not 204.50. Typo.

:)
+1 Reply
4xForecaster PRO Macainian
2 years ago
Yes, thank you @Macainian for looking out. Much appreciated.

David
+1 Reply
4xForecaster PRO 4xForecaster
2 years ago
TYPO: 240.50, not 204.50 - Chart unchanged:


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David
+1 Reply
Zoltanus 4xForecaster
2 years ago
lal
Reply
4xForecaster PRO Zoltanus
2 years ago
Hello @Zoltanus,

Not sure what you mean by L A L.

Please explain.

David
+1 Reply
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