4xForecaster

Nearing A Potential Reversal | $EUR $USD #ECB #FED #Forex $GLD

FX:EURUSD   Euro Fx/U.S. Dollar
645 6 8
24 AUG 2014 - Update:

From Twitter:
---------------
$EURUSD - Model signals a potential reversal in the 1.21988 to 1.32097 range:

snapshot


via @tradingview | $EUR $USD #Forex
-------------


snapshot


Traders,

Aside from the model's signaling a potential reversal in the 1.21988 to 1.32097 range, one has to also look at the WEEKLY chart (see WEEKLY chart below) to appreciate that current price is resting at the 38.2% significant Fibonacci level.


$EURUSD - WEEKLY:
snapshot


In addition, that same WEEKLY timeframe would also reveal that on the Elliott Wave basis, a corrective A-B-C pattern is nearing its geometric             patterning right at a point where a perfect symmetry would also be reached - see DAILY chart below.


$EURUSD - DAILY:
snapshot



OVERALL:

Predictive/forecasting model, simple Fibonacci data and Elliott Wave corrective geometry are all lining up to suggest a potential reversal in the 1.21988 to 1.32097 range.


Cheers,


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


------------------
Twitter: @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
* * * Here is a re-posting of the text, so that it may show the charts * * *
* * * Typo also reflects correction of range definition * * *


============================

24 AUG 2014 - Update:

From Twitter:
---------------
$EURUSD - Model signals a potential reversal in the 1.31988 to 1.32097 range:

snapshot


via @tradingview | $EUR $USD #Forex
-------------


snapshot



Traders,

Aside from the model's signaling a potential reversal in the 1.21988 to 1.32097 range, one has to also look at the WEEKLY chart (see WEEKLY chart below) to appreciate that current price is resting at the 38.2% significant Fibonacci level.


$EURUSD - WEEKLY:
snapshot



In addition, that same WEEKLY timeframe would also reveal that on the Elliott Wave basis, a corrective A-B-C pattern is nearing its geometric patterning right at a point where a perfect symmetry would also be reached - see DAILY chart below.


$EURUSD - DAILY:
snapshot




OVERALL:

Predictive/forecasting model, simple Fibonacci data and Elliott Wave corrective geometry are all lining up to suggest a potential reversal in the 1.31988 to 1.32097 range.


Cheers,


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


------------------
Twitter: @4xForecaster
-----------------


====================


Thank you!

David
+1 Reply
NOTE: T.S. Hennessy is the author of "The New Elliott Wave Rule", claiming a new set of rules that would simply take all rules and exceptions out of the window, by simply applying his 1-2-3-A-B-4C-1-2-3-A-B-4C-1-2-3- ... count on to any of the waves.

I have read his material multiple times (very simple book), and I must say that his wave count definitely works well here as well.

If anyone cares to comment on their own experience with this methodology, I would love to hear about it. I also joined his forum, but did not find much that would add to the literature. Also, if you are familiar with his method, feel free to post a chart herein as well.

I have set a chart aside with his count, but decided to keep it out of the picture for now, as it may confuse the EW student, if there were any number of you reading this.

Thank you.

David Alcindor
Reply
DATA - Forex Open Position Ratios - As of 24 AUG 2014:

$EUR Longs:
66.43%

$EUR Shorts:
33.57%

= Bulls are ganging UP.


David Alcindor

(Source: http://fxtrade.oanda.com/analysis/open-position-ratios)
+1 Reply
360 4xForecaster
2 years ago
Hi D, what broker is this data from ?
Reply
24 AUG2014 - T. S. Hennessy Count - Alternate Wave Count


* * * the following chart illustrates an alternate wave count * * *


snapshot



Traders,

Note that I have used wave count in this particular chart using the methodology prescribed by T. S. Hennessy in his free eBook (here is the link for your leisurely review: http://www.sponser.co.il/ForumFiles/0f42bf05-bbb1-4570-9d5e-b9f28e87d412.pdf).

As indicated earlier, the count is a repetitive string of 1-2-3-A-B-4C-1-2-3-A-B-4C-1-2-3-... where the spearheading 4B was surpassed the outermost Point-3 into new territory. If you have problem with deciphering the count, I can share a few tid-bits of info on this, but I can say right now that the most visual traders in our midst will get it quick rapidly.

I will not cut/past any info already available in that book. I am a paying member of Mr. Prechter, Jr. daily news, weekly releases and monthly newsletters, and an avid student of occult geometries. So, this thing is not too foreign to me, and I would say not without the risk of sounding as if to self-inflate, that I can be of some help with the most basic wave count. My rule is a whole lot more lax than some other traders, as I am NOT interested in seeking the right degree, as much as interested in finding out where my count stands in relation to higher and lower timeframe, and in the geometric context of the price development.

Also, a quick word on the current position, relative to the "big picture":

Right now, the chart illustrates a concluding Wave-C of the largest degree available to sight in the chart - See the A-B-C? This is written there, because it actually reflects the corrective count of the 1-2-3-A-B-4C, where 4B is the spearheading segment of that A-B-C count.

Also, if you thus start at the beginning of the Wave-C, you will reduce the degrees as you count foreward along the impulse, starting with roamn numerals, down to parenthesed numerals, down to open numerals.

Here, you will see that this ever shringking count is focusing once again at the bottom most portion of the chart, where the TG-Lo is forecast from the model.

I have also included a b to c count, suggesting that IF we were correctly following the T.S. Hennessy count, then the market would open UP towards these points, so as to complete, then reverse from this a-b-4c condition, BEFORE turning to the completion of the Wave-5, as it would join Wave-(5), Wave-V and Wave-C.

I hope this is coming to sight in your mind's eyes. If not, feel free to ask.

Cheers,


David Alcindor
Reply
* * * 31 AUG 2014 - Forex Intel - The following market intel info on major banks' FX positions could impact this chart * * *

----------------------------
Morgan Stanley adjusted stop from 1.336 to 1.326 on its $EURUSD Short (Medium-Term)
---------------------------

More on these market intel every day, here:
- https://www.tradingview.com/chat/#xsmm44S00HaO5wCZ

It's free, current and streaming - Simply follow me and get the info as I post it.

Cheers,


David Alcindor
+1 Reply
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