4xForecaster
Long

Nearing First Target; Eyeing Lofty TG-2 | $EUR $GBP $USD #Forex

FX:EURGBP   Euro Fx/British Pound
260 10 1
Friends,

Some of you may now know that I have progressively migrated from my formerly Facebook             home to my new nest at TradingView. Another change that should be quite obvious, is that I will now reveal some of my on-going and future trading activity. However, I have stopped my lessons as I decided to concentrate on my own trading, so some of you will understand the occult jargon I let out, and some may not.

In this particular LONG position, which I opened on February 17th, 2014 @ 0.81624 (Great White prop pattern), I spotted a counter-trend opportunity based on price action (as opposed to my proprietary predictive analysis and forecasting strategy, which I used here to further ascertain the two main targets).

Resulting from that initial analysis are the following two targets:

1 - TG-1 - 0.83653 - 17 FEB 2014

and

2 - TG-2 = 0.84503 - 17 FEB 2014.

Just added today is a projected 0.382-Fib minimal relief retracement from current sustained impulse leg, corresponding to structural supports immediately to the left @ 0.82855.

More on the trade as it develops.

Cheers,

David Alcindor
Predictive Analysis & Market Forecasting
- TradingView.com Moderator, Alias: 4xForecaster


PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.


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Alias: @4xForecaster
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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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
FxSaint
2 years ago
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Any push up is selling opportunity for time being in my opinion.... unless & until 0.8365 is completely taken out your second target is hard..... but nonetheless I can always be wrong & it can reach your 2nd target.
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FxSaint FxSaint
2 years ago
the LVL is not 0.8365 its 0.8385......LVL to watch out. Sustained breakout above this LVL will give your 2nd target pretty easily.... best of luck.
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4xForecaster PRO FxSaint
2 years ago
@FxSaint - Appreciate your input, although your rationale is not clear.

Levels are generated outside of price field and system-dependent, so I don't plan to tamper with that system, which is the trading plan.

David
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BBFX
2 years ago
Hi Doc.....This is what I have on my chart currently for this pair...I am hoping the BUTTERLY Sell will provide an RSI reload opportunity, with hopefully a Positive Divergence to support a BUY at the turquoise levels, with a BULL-MC currently in force.......Then , perhaps your target will become my target also!! :-)
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BBFX
2 years ago
aslo, EURUSD needs to unwind somewhat from the rise last week, this may help EURGBP unwind too!!
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4xForecaster PRO BBFX
2 years ago
Hi @BBFX - Your M15 calibration disagrees and calls for a first-stack event following 123-PA completion. Not sure I understand what "needs" a currency pair can ever express, but if you base your analysis/opinion on a so-called "oversold" feature, prepare for disappointment, as you know my mind about these concepts.

Not saying that price can't fold from here and print a reversal in your RSI, but RSI can live in 90-plus stratosphere levels sustainedly, contrary to institutionally inculcated prohibitions of pavlovian Freshman lessons. But again, you know what I think about these price-based views.

If the M15 says "turn", then it will. Right now, it says "stack", but has yet to do so, so the outcome remains uncertain.

However, probability remains high for stack over unwinding.

David
Reply
4xForecaster PRO BBFX
2 years ago
Re: EURUSD - Same thing here, plus there is a positive divergence, albeit quite protracted over time, but still there, so rally holds a higher prob over unwinding.

Again, I am not saying you are wrong or that I am right. I am simply saying that I base my trading on pure objective IF/THEN algo conditions and probability.

David
Reply
BBFX 4xForecaster
2 years ago
I agree with you wholeheartly about not looking for 'oversold' etc... The M15 still has a Bull-MC if force, so taking a SELL is counter to this! Agreed....However, with have seen a LL in M15, and now price has returned to take a 'look in' the EASTWOOD Zone ( Just a name given to a 0.75-1.00 retracement )--- I hope that makes sense, I am desperate for a cup of tea!! :-/ --- ....A new LL encourages me to take this BUTTERFLY Sell trade... I agree with you that we share charts to learn from each other, and not to compete!! Best Regards My Friend!! :-)
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4xForecaster PRO BBFX
2 years ago
"I agree with you that we share charts to learn from each other, and not to compete!!" - huh?

Not sure why that statement, not what I meant in prior comments. Although, I did talk about now sharing my targets/analyses/forecasts in the recent Facebook comments.

Feel free to share and comment, BB. You know how I appreciate your shrewd mindset.

David
Reply
BBFX 4xForecaster
2 years ago
Sorry Doc.......I better grab that tea now!! :-)
Reply
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