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

671 17
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.

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

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@4xForecaster
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## Related Ideas

16 APR 2015 - Update:

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$CADJPY hit target at 97.887; Expecting significant resistance, reversal to to 93.028: @tradingview$CAD $JPY #BOC ----------- David Alcindor Reply 15 APR 2015 - Update: Gave a modified geo yesterday, on the basis of a probable rallying, the movement of which would maintain the integrity of the Elliott Wave IMPULSE, and yet make space for a upside-limited geometric development within EW's 4th wave. Here is where we are at this hour ... Point-3 of internal geometry (i.e.: within EW's 4th wave) will act as a structural condition, i.e.: where price breaks above, closes above and attains the target: David Alcindor Reply 02 APR 2015 - Update: From Twitter/LinkedIn: -----------$CADJPY continues to defy gravity. Both geo, predictive model call for a Newtonian moment:

@tradingview $CAD$JPY
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David Alcindor
20 MAR 2015 - Update:

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$CADJPY remains subdued to background geo; Bearish 90.005 target remains intact: @tradingview$CAD $JPY #BOC #BOJ ---------- David Alcindor Reply 18 MAR 2015 - Update: From Twitter/LinkedIn: ----------$CADJPY reacts towards geo's underbelly; Bearish target in force as forecast:

@tradingview $CAD$JPY #BOE #BOJ
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David Alcindor
13 MAR 2015 - Update:

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$CADJPY moves as forecast; Bearish target in force beyond nearing support: @tradingview$CAD $JPY #BOC #BOJ #forex ---------- David Alcindor Reply 10 MAR 2015 - Update: From Twitter/LinkedIn: ----------$CADJPY: Potential decline per background geo; Eyes prior bearish forecast

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

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$CADJPY: Reversal from current hit target level is possible as a EW Flat looms: @tradingview$CAD $JPY #BOC #BOJ ---------- David Alcindor Reply 03 MAR 2015 - Update: From Twitter/LinkedIn: ----------$CADJPY hit taget; Expecting reversal resistance if fails > 96.4059:

@tradingview $CAD$JPY #BOC #BOJ #forex \$USD
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David Alcindor
4xForecaster
Here is the 4-hour chart's context - See how the level just hit represents a significant structural level:

David Alcindor
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