4xForecaster

Short Opp @ 93.995 On The Move | $CAD $JPY #BOC #BOJ #Forex

FX:CADJPY   Canadian Dollar/Japanese Yen
Friends,

In case you had missed one of the many signals I release via my Twitter alias, @4xForecaster, here is a repost of the tweet from this June 03rd, 2014:

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"$CADJPY - Short opp             @ 93.995 - SL trader's tolerance risk (mine: 94.03 = 93.995 + spread)
- S/T TP@ 93.371
- L/T TP@ 91.489 - High RR"
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Time-posted source: https://twitter.com/4xForecaster/status/473931676196667392

As of this morning, the trade is well on its way, although today's data may frustrate the plan. Nonetheless, I thought it was worth posting this for the record, as price continues to near the S/T target at 93.371.

Added downside exists on a technical basis, but the force of the fundamentals might tip the balance one side or another between here and the more abysmal target. More on this as time elapses.

While the trade was generated based on a technical basis, the predictive/forecasting model remains at an impass, between a S/T bearish bias and a L/T bullish bias, making the directional bias a "Neutral" one, and elevating this trade at a highly-speculative level.
Cheers,

David Alcindor
Predictive Analysis & Forecasting


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Twitter: @4xForecaster
Forecast archive: http://bit.ly/16JMnH8
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David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
17 JUN 2014 - Update:

From Twitter:

"$CADJPY Bearish Signs: $UKOil, $USOil at reversal; $XAUUSD near-reversal; Diagonal triangle in chart
snapshot
@tradingview "

snapshot



A Elliott Wave's Diaonal Triangle may be underway at this point, with a potential "Throw-Over" signature at its Point-5. The model itself remains at the same impasse at it was at release of the trade, when S/T signaled a bearish bias against a bullish bias in L/T. This may have probably be the cause behind a protracted consolidation, whose geometric pattern is now giving rise to a potential diagonal triangle.

Based on the initial trading parameters, I was taken out of the trade at a small profit.

My expectation favors a short position, as I am waiting for this following event completion:

Looking at a larger pattern (Gartley completing potentially near the 94.324 level), the signature "Throw-Over" of the triangle could potentially rise and meet resistance at that grander pattern level.

Without any definitive implication from the predictive model, this trade remains as speculative as it was said to be at its release on June 03rd, 2014.

Note that a separate predictive analysis that looks for any upside resistance falls in line with that 94.324 level, and defines 94.435 as it top-most tolerable adverse excursion level.

Cheers,

David Alcindor
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