A quick and dirty way to forecast your way across the blank screen is to make use of very simple tools, such as Fibonacci forward projections of its significant .
In the case of the #ES, here we are dealing with a high-probability geometry, derived from a Wave's pattern, in which we recently noted a Flat.
Hope this little pearl helps the novice traders out there.
Predictive Analysis & Forecasting
Denver, Colorado - USA
PS: Here is the link to most recent analysis:
Without the knowledge of EWP , a pattern trader might possibly have noted the Double-Bottom that resulted from Points A and C.
Here is what I recommend doing next in the case of defining a Target:
1 - Set your Fib scale at only three values: zero, 100 and 1.618
2 - Seek the most recent HIGH and use it as the starting point of your Fib scale;
3 - Seek the most recent LOW and anchor the other end of your Fib scale to it.
Best is to use a magnet option, so that it guarantees the highest precision.
4 - Look at where your 1.618 brings you, and that is probably where price will move to.
The predictive/forecasting model is a whimsical animal that carries its own target definitions, but considering that TG-1 = 2016.25 falls below above method, and TG-Hi = 2031.25 falls above it, this hugs above value with some reassuring credibility.
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Thanks to you @Nightwish for pointing this out.
Getting late, and I need to return to learning my alphabet.
Appreciate the PM.