4xForecaster

Significant Rally Opp; Beware Of 7-Legged Triangle $CAD $JPY

FX:CADJPY   Canadian Dollar/Japanese Yen
Friends,

Model proposes a set of lofty and loftier targets provided that the following conditions are NOT met:

1 - Line A-e fails
2 - Line a-c-e validates Point-g to complete a large 7-legged expanding triangle
3 - Line a-g fails to express an #Elliott Wave Expanding Triangle through Points A, B and C.


TRADE STRAT NOTE:

One significant factor that might support above bearish development is the morphology of most recent bearish swing, expressed from Point-f to recent low. A rallying from current low might still be limited, allowing the Elliott Wave to complete at or below Point-g - I have entered a LONG trade here on the premise that the A-e Line is defining a dynamic guideline along which a SL is allowed to find a concrete             place of definition. IF and once this A-e Line fails, I would know to stay cash, rinse and repeat at Point-g.


PREDICTIVE /FORECASTING MODEL:

Model defined the following lofty targets as:

1 - TG-Hi = 103.978 - 27 JAN 2015

and

2 - TG-Hix = 114.716 - 27 JAN 2015

A wide variability can occur in terms of price action, especially as the current price on this 2-DAY chart continues to weave a potential Elliott Wave's Expanded Flat, on the back of a current bearish swing (points f, g) that may take on the shape of an impulse - in which case, Point-g would become fair game at the very least.


PATTERN ANALYSIS:

Besides the threat of an Elliott Wave Expanded Flat completion, where Point-B should exceed the origination point of Wave-A and Point-C should exceed the termination Point of Wave-A, as well as the possibility that the 7-legged expanding triangle might complete short of Point-g, or may seek completion even below Point-g, one has to look at the WEEKLY chart (not included here) to appreciate the potential completion of a large Bearish Gartley .

The Gartley terminates at Point-D = 0.786 x XA, which would approximate a value of 113.268 ... A bit short compared to the model's TG-Hix = 114.716 - 27 JAN 2015.


OVERALL:

Watch for bearish set of conditions. Model remains bullish in L/T, but intermediate timing will require price to clear bearish technical hurdles - Consider this a counter-trend.

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: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
27 JAN 2015 - LATE ENTRY: Comment on this chart prior to analysis:
(Originally posted on older $CADJPY chart, here:
Janus Prop Pattern Awaits At 103.703 | $CAD $JPY #forex
)

===============
26 JAN 2015 - Update:

$CADJPY favors rally per TL; Background #elliottwave Expanded Flat lurks:

snapshot


@tradingview $CAD $JPY #BOC #BOJ #forex


snapshot



David Alcindor
==============

David
Reply
shenkw85 4xForecaster
Hi David, any updates on the CADJPy? Is the model still favoring a bull?
Do advise? Thanks
Reply
28 JAN 2015 - Update:

From Twitter:
----------
$CADJPY reached its high-probability reversal to 1.0729 as WW completed its 5' validation:

snapshot


@tradingview $CAD $JPY
----------


snapshot



David Alcindor
Reply
29 JAN 2015 - Update:

From Twitter:
----------
$CADJPY continues to defend its ground at WW's 5' along TL; Remains Bullish; Target intact:

snapshot


@tradingview $CAD $JPY
----------


snapshot



David Alcindor
Reply
29 JAN 2015 - Update:

From Twitter:
----------
$CADJPY favors rallying, but interim dip to Point-g could occur; Look for pattern in RSI:

snapshot


@tradingview $CAD $JPY
----------


snapshot



David Alcindor
Reply
29 JAN 2015 - Update:

From Twitter:
----------
$CADJPY points to lower levels; Eyes a-c Line validation at Point-g:

snapshot


@tradingview $CAD $JPY #BOC #BOJ #forex
----------


snapshot



David Alcindor
+2 Reply
shenkw85 4xForecaster
Hi David

Any updates on the CADJPY pair?
snapshot

Seems to be hovering at 200 days support

Thanks
Reply
03 MAR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY hit taget; Expecting reversal resistance if fails > 96.4059:

snapshot


@tradingview $CAD $JPY #BOC #BOJ #forex $USD
----------


snapshot



David Alcindor
+3 Reply
4xForecaster PRO 4xForecaster
Here is the 4-hour chart's context - See how the level just hit represents a significant structural level:

snapshot



David Alcindor
+1 Reply
03 MAR 2015 - Addendum:

From Twitter/LinkedIn:
-----------
$CADJPY: Reversal from current hit target level is possible as a EW Flat looms:

snapshot


@tradingview $CAD $JPY #BOC #BOJ
----------


snapshot



David Alcindor
+3 Reply
10 MAR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY: Potential decline per background geo; Eyes prior bearish forecast

snapshot


@tradingview $CAD $JPY #BOC #BOJ #forex
----------


snapshot



David Alcindor
+1 Reply
13 MAR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY moves as forecast; Bearish target in force beyond nearing support:

snapshot


@tradingview $CAD $JPY #BOC #BOJ #forex
----------


snapshot



David Alcindor
+3 Reply
18 MAR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY reacts towards geo's underbelly; Bearish target in force as forecast:

snapshot


@tradingview $CAD $JPY #BOE #BOJ
----------


snapshot



David Alcindor
+3 Reply
20 MAR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY remains subdued to background geo; Bearish 90.005 target remains intact:

snapshot


@tradingview $CAD $JPY #BOC #BOJ
----------


snapshot



David Alcindor
+2 Reply
02 APR 2015 - Update:

From Twitter/LinkedIn:
-----------
$CADJPY continues to defy gravity. Both geo, predictive model call for a Newtonian moment:

snapshot


@tradingview $CAD $JPY
----------


snapshot



David Alcindor
+3 Reply
15 APR 2015 - Update:

Gave a modified geo yesterday, on the basis of a probable rallying, the movement of which would maintain the integrity of the Elliott Wave IMPULSE, and yet make space for a upside-limited geometric development within EW's 4th wave. Here is where we are at this hour ... Point-3 of internal geometry (i.e.: within EW's 4th wave) will act as a structural condition, i.e.: where price breaks above, closes above and attains the target:

snapshot



David Alcindor
+2 Reply
16 APR 2015 - Update:

From Twitter/LinkedIn:
----------
$CADJPY hit target at 97.887; Expecting significant resistance, reversal to to 93.028:

snapshot


@tradingview $CAD $JPY #BOC
-----------


snapshot



David Alcindor
+2 Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out