Looking at following potential interim development:
1 - background geometry to 1-4 Line 2 - Range: 1.89098 to 1.89610
Expecting further decline based on predictive/forecasting model, aiming for following bearish target:
- TG-Lo = 1.79707 - 20 MAR 2015
OVERALL:
Background geometry is likely to contain price subdued to range defined above. Predictive/forecasting model remains bearish.
Invalidation of longer-term directional bias should occur if price rises above point-2 of background geometry, or 1.9142.
Feel free to follow this trade in the general "Advanced Financial Market Geometries" lesson segment open today, here: tradingview.com/v/W4GwjLu0/ , for more on advanced patterns and strategies.
David Alcindor Predictive Analysis & Forecasting Denver, Colorado - USA
Hi David, I know we are expecting a further demise in price, however might a small rally occur as per WW?
4xForecaster
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@iefan - The geo stretches so far down that I would consider point-3 as a fair intermediate target, whereas point-4 would remain a completion level with or without a residual position - David
4xForecaster
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@iefan - One way to check your geo is to measure and seek either a 1.424-Fib or a 1.618-Fib extensions.
I would personally rely on the lesser-known 1.414 over the Pavlovian 1.618, as it offers an earlier, more aggressive, and tactical entry (I.e.: By using 1.618 as an objective Stop-Loss level from which to re-entry, or add to, a position - David
4xForecaster
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25 MAR 2015 - Update:
From Twitter/LinkedIn:
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GBPCAD rallies from 5'; Eyes 1.89/86 range; Structure lurking at 1.8986:
Hi David, please could you have a look at this chart for me. Minor WW point 5 forming at the level of Point 4 of the larger WW and in proximity to large WW 1- 4 Line. Do you expect a high probability of decline from here for this pair to the 1.8 region?
4xForecaster
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@iefan - Yes. Been on it already ... 1.85938 is my target for retracement into geo.
From Twitter/LinkedIn:
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GBPCAD reversed at forecast range per geometry; Predictive Model's target remain in force:
@TradingView GBP CAD
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David Alcindor