$GBP vs. $CHG offers a high-probability of a geometric completion following the price pathway speculated in the chart (dashed orange pathway):
Predictive/Forecasting Model defined the following two qualitative targets:
1 - TG-Hi = 1.54017 - 09 AUG 2015
2 - TG-Hix = 1.57575 - 09 AUG 2015
Current price action may be completing a 5th wave of a larger impulse, with 5th wave pending a higher structural level in the vicinity of the targets defined by the Predictive/Forecasting Model. Note how well the EW's Rule of Alternations worked here between a curt 2nd wave and a protracted 4th wave.
Two possible market geometric development rest on the pattern and the Geo , albeit Point-4 remains speculative and ill-defined at this early stage. As indicated above, a price decline is expected, with support corresponding to an internal structural (i.e.: internal to the highlighted geometry).
A would seek completion at or near the first Model's forecast targetat 1.54017, whereas a Geo would allow for a temporary excursion to the topside of the WW, ideally along the 3-5' Line, convergent to the Model's highest defined target at 1.57575.
In the background, an interim decline to carve out a higher low is expected, defining Point-4 on the way to a geometric completion of WW or Geo . At the foreground, the Predictive/Forecasting Model defined loftier targets than , but in line with a Geo completion.
Predictive Analysis & Forecasting
Durango, Colorado - USA
11 AUG 2015 - UPDATE:
$GBPCHF hits target at 1.54017; Meets resistance; Background geometry remains unfolds:
$GBP $CHF #BOE #SNB #franc
24 AUG 2015 - UPDATE:
$GBPCHF hit higher-prob. 1.47093 target; Reversal to 1.57575 target now more probable:
$GBP $CHF #BOE #SNB #forex
@iefan - I saw your query in the ATHENA room ... Here is what I am looking at for now:
Basically, price failed to deliver a simple ZZ geometry to a lower level (orange line). Although the ZZ geometry occurred, it since carved a higher-high.
While this provides the outline for a potential ATHENA application in the diverging lines, I am not certain yet that it would occur.
In any case, YES: I do trade the last two legs of the ATHENA (4-5 Leg, then Point-5 reaction).
Now, looking at other $GBP charts, one in particular caught my attention, suggesting that it could bring $GBP down, and thus by correlation, could bring this one down to an undershoot of the geometry in $GBPCHF as well (pink arrow down in $GBPCHF) - I am referring to $GBPAUD where a 5' is nearing completion.
Per Geo's Off-Set Rule #2, we are thus looking at this potential move:
Hence, the correlation could carry through to the $GBPCHF and bring price to completion of its internal geometry (black).
Price ignores geometry; Continues to rally to Model's TG-Hix target:
Prior chart suggested possibility of a limited decline t 1.43051. Instead, consider this shallower interim option, whereby price would complete a reciprocal ab = cd symmetry to rest at the value illustrated in the chart ... Bullish target remain intact and in force:
Bullish target remains intact and in force. However, expect an interim respite from bulls, seeking repose at 1.49095 before recommencing a final advance to Qual-Target TG-Hix = 1.57575, defined this past August 09th, 2015::
Price continues to rally ... Did not retrace as low as expected (1.49095) ... Forecast remains intact and in force:
Here is an example where the Wolfe Wave would have been much more precise a method than the Geo's, considering that the off-set at Point-1 in the Geo caused a miss on Point-5:
Based on the Wolfe Wave, expect price to seek validation along the 1-4 Line.
Now, also beware of this potential larger geometry, since the Model's bullish target remains unanswered:
Target a 1.57575 remains intact and in force. Price remains close to dashed arrow forecast - Note that I have expanded the geometry (PINK), and added an internal Geo (BLACK), suggesting a probable or near completion of the 5-plot cycle - This suggests an imminent rallying:
Aside from these geometries, Model remains BULLISH, eyeing the original 1.57575 target.
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)
Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
There are several "Chatrooms" in which I do most of the "brain chatter" with myself. These rooms are more like back-stage "ateliers" where I prepare educational trades in advance.
You are welcome to wipe the dust off of the windows and peek in. The glass is rather thick: I rarely reply to taps on the glass or even shouts from the door. I work very late hours in the ER and I use these moments to collect thoughts, ideas, concepts, and lay it out there in the open.
If you think this could be beneficial to friends, peers, family, and perhaps perk up their interest in more advance technical analysis than the over-traded patterns, then feel free to share these links with them ... There is no gimmick, no fees. I earn y own money with my own skills, and not with your money.
All this information is free - In exchange, I would greatly appreciate your intelligent comments, insightful posts and kind referrals.
Predictive Analysis & Forecasting
Durango, Colorado - USA
LinkedIn: David Alcindor
ATHENA | Predictive Analysis & Forecasting | 4xForecaster:
$BTC | Predictive Analysis & Forecasting | 4xForecaster:
$GBP | Predictive Analysis & Forecasting | 4xForecaster:
$CAD | Predictive Analysis & Forecasting | 4xForecaster:
$EUR | Predictive Analysis & Forecasting | 4xForecaster:
$NZD | Predictive Analysis & Forecasting | 4xForecaster:
Metals | Predictive Analysis & Forecasting | 4xForecaster:
Stocks | Predictive Analysis & Forecasting | 4xForecaster:
Indices | Predictive Analysis & Forecasting | 4xForecaster:
* * * Archives of Hit Targets * * *
Feel free to capture and share links - I do apologize ahead for not immediately or rather rarely replying to inquiries within these chatroom - Best is to contact me through the threads, such as this one, where the discussion can reach a far greater number of traders and benefit not just the chatroom participants, but the larger community of traders here on TradingView and outside.
Also, these chatrooms are not spaces where I would engage traders into circular arguments, as I really have no opinion of the underlying market for which the analyses are provided. This is all educational, and if you need real trading advice, seek that of a certified professional - I am a non-certified life-time student of the market. I am the author of several proprietary (i.e.: not for sharing) patterns (Great White, Janus, Euclid) and lesson-based shared methods (EAGLE, AFT), but I do spend most of my time double tasking between broken people and breaking markets.
PS: If you like certain charts, ideas, concepts, then given it a thumbs-up so I know which one to delve into and which one to lay off of. And, if you think these are ideas that can advance the edification of a peer, then I thank you ahead for sharing - I don't make money via memberships. Just trading my own ideas and free-sharing ... Just a better credential, if I may say so.
Cheers to your profitable trades,
A pretty forceful reaction typically ensues from this pattern.