4xForecaster

$CADJPY: All Targets Hit As Forecast

FX:CADJPY   Canadian Dollar / Japanese Yen
177 1 0
Friends,

On May 27th, 2014, I forecast two distinct bearish target, namely TG-1 = 93.830 and TG-2 = 93.746, using a much smaller timeframe (M5).

On a pure technical standpoint, the outlook appeared bearish , as price has surged into a EW Wave-3 completion, then retraced into a symmetrical a-b-c completion of Wave-4 (see top right of chart). What followed appeared to be a truncated Wave-5, whereby the termination of Point-5 remained below Point-3. In my predictive model, a significant reversal signal was already pointing to a probable reversal at this lesser level, relative to Point-3.

The underlying geometry that unfolded appeared as a wedge , with a rising median line that belonged to a much larger rising overhead resistance.

The trade opp             was a tweeted first as a warning, calling the trader's attention to the conditional 93.987 value:

- " $CAD vs $JPY: Short opp             within 93.868-93.987 range; look into your inds for confirm.; signal pending 93.987 not breached @tradingview "

Following are graphic links of the trade's deveopment:

1 - Set up:
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2 - Confirmation:
-

3 - Price Recovers Into A Kiss Of Death ("KoD"); Targets Are Defined:
-

4 - First Target Hit:
-

5 - All Targets Hit:
-


OVERALL:
This was a nice and clean trading opp             , from the EW truncated Wave-5 and its geometric             wedge signal, to a repeat short at the completion of the KoD, and the clean definition/validation of each targets.

Cheers,

David Alcindor
Predictive Analysis & Forecasting

More dead-on hits here: bit.ly/16JMnH8

Get these signals, analyses and forecast via my Twitter alias: @4xForecaster - All trading strategies use TradingView's toolbox.
A quick visual recap of the trade development using the linked charts:


1 - Set up:



2 - Confirmation:



3 - Price Recovers Into A Kiss Of Death ("KoD"); Targets Are Defined:



4 - First Target Hit:



5 - All Targets Hit:


Cheers,

David Alcindor
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