Here we are again with another directional signal confirmation, to the downside this time. As you recall, we have been quite successful (and very precise) in the predictive analyses and forecasts with this major pair (See all three target forecast here: , as well as subsequent analysis here: regarding that successful stream of forecasts).
At this point, the signal released a significant market reversal with the following targets:
1 - TG-1 = 1.35285, moderate probability
2 - TG-Lo = 1.31747, a low probability.
Indeed, the second target is abysmal and seemed far-fetched at this point, so I added it in the chart field "for the record".
Highlighted in the field are significant levels of which are likely to impact price action. The blue dotted arrow is left in the field not to time, but provide a highlight of the directional bias and of the projected levels of said .
Pattern traders might perceive some standard geometric pattern forming up, but as I was stating to one trader who inquired patterns, I tend to avoid projecting patterns on the price field, because they freeze the mind's eye, and lock the trader's ability to see other potential scenarios through an otherwise unimpaired visual play field. Plus, I have moved on from patterns to my predictive analysis and forecasting system. If the signal tells me jump, I jump, as per this simple rule:
"Plan your trade, and trade your plan"
For those who have followed my signals and lessons I have posted on TradingView, they must agree that so far, that system has been quite robust and reliable.
Predictive Analysis and Forecasting
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- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of , classic , basic and trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- 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
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