4xForecaster
Long

$GBP v. $AUD - Geo Eyes 2.19 | #BOE #RBA #aussie #forex $AUDUSD

FX:GBPAUD   British Pound / Australian Dollar
959 18 24
Friends,

As per last week, $GBPAUD reached its geometric             target along the Geo's 1-3 Line - See the frame-by-frame completion of that target in the thread below, immediately following this analysis.


snapshot



For now, we are concentrating on the Geo's 5-point completion at its ectopic 5-prime (5') - As explained before, this placement is important as we seek a high-probability target if and once price reverses from either Point-5, Point-5' or Point-5''.

What the Geo             offers is a ranking of probability in terms of attainment if and once price reverses from these Poin-5 alternatives, such that a geometric             compensation occurs as price adversely excurse beyond the 1-3 Line. This forms the basis of the Geo's Off-Set Rule, which states that:

1 - Reversal from Point-5 offers the highest probability attainment along the 1-4 Line ( Wolfe Wave target) - Rule #1;

2 - Reversal from Point-5' offers the highest probability attainment at the price level corresponding to Point-4 - Rule #2;

and

3 - Reversal from Point-5'' offers the highest probability attainment at the price level corresponding to Point-3 - Rule #3.


In the chart, a reversal from 5' would thus offer the highest probability reversal at the price level corresponding to Point-4, whose range is 2.103 to 2.200.

As of this writing, a new candle formed, but the 5' validation remains pending (i.e.: price validates the 2-4 Line originating off of Point-3.


OVERALL:

Bearish outlook based on the geometric             compensation that constitutes Rule #2 of the Geo's Off-Set Rule.


Best,


David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


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Comment: 27 OCT 2015 - Chart Update / Tech-Note:


Wolfe Wave completes in the vicinity of larger Geo's Point-3; WW is likely to complete its cycle seeking 1-4 Line validation:

snapshot



David Alcindor
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
27 OCT 2015 - Chart Update / Tech-Note:


Wolfe Wave completes in the vicinity of larger Geo's Point-3; WW is likely to complete its cycle seeking 1-4 Line validation:

snapshot


David Alcindor
+4 Reply
7 OCT 2015

GBPAUD

Hi David. Thank you for sharing another trading idea. From a technical point of view, if entering long in the Green Box, where would be a sensible SL placement on your chart.....5 pip plus spread below 2.10909? Also I have found a smaller Geo, would a sensible SL for my chart be below the 1.618 FE? Thank you very much Iefan
snapshot
+1 Reply
Hello @iefan - I would use the 1-2 Leg of the Geo and extend a 1.618-Fib downward ... This might offer a more accurate and "fresher" set of data, based on the scale of that Geo ... I see one as price completes its descent, so I hope we are talking about the same geometry (i.e.: the one taking place between the 6-7 OCT, with Point-1 right above the level of the 1.414 and Point-5 right below that same 1.414).

Are we seeing the same geometry?


David
+2 Reply
4xForecaster PRO 4xForecaster
@iefan ... This one (on a M15 scale):


snapshot



David Alcindor
+2 Reply
4xForecaster PRO 4xForecaster
... Unless you are referring to this larger one (grey outlines)?


snapshot



David
+2 Reply
iefan PRO 4xForecaster
My apologies David, I was not clear. The first question relates to your Trade Idea posted above ( at the very top of the page ). I'm looking for guidance in terms of a SL placement on a purely technical level for a LONG trade entered at Point 5', or in other words in the area of the Green Box in your chart. I suspect a sensible SL would be at the 1.414 FE of the 1 - 2 Leg....or would it be below the 1.618 FE of the 1 - 2 Leg? The next question I'll post below relates to the smaller Geo I posted, but also concerns SL placement on a technical level. I will separate the questions for clarity. Thank you very much. Iefan
snapshot
+1 Reply
@iefan - I see.

Yes, the 1.414-FE is a fair and reliable level when there is no other recourse. However, I would look for more recent data, such as the 5th wave of an impulse, which itself will tend to stretch across a 1.414 to 1.618-FE span.

In the chart you just posted above, the handles for that Fibonacci scale would use the low where price touches the green box as a low marker (i.e.: 100-Fib level) and the slight retracement into a tweezer-top, corresponding to the level of Point-3 (this would be the 0-Fib).

Makes sense?

David
+2 Reply
iefan PRO 4xForecaster
Thank you David, have I charted it correctly?
snapshot
+1 Reply
@iefan - Yes, exactly what I was seeing - David.
+1 Reply
iefan PRO 4xForecaster
Excellent, thank you David.
+1 Reply
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