4xForecaster

$GBP vs. $JPY Nears Significant Resistance | #BOE #BOJ #forex

FX:GBPJPY   British Pound/Japanese Yen
765 4 16
Friends,

Watch for resistance at 193.667 - Predictive Model calls for significant pushback - possibly reversal - at the following qualitative target:

- TG-Hi = 196.311 - 16 JUN 2015


snapshot


Structural levels lurk below, at 163.079/161.453. This is a L/T chart where the Predictive /Forecasting Model represents heavier players, and is therefore less representative of the synthetic market (i.e.: retail and institutional).

There are no market geometries considered at this time.

Best,


David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


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

Signal Service or Private Course - Contact: admin@KADAInstitute.com
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18 JUN 2015 - UPDATE:

Reminder - Price is rallying ever so closer to Predictive/Forecasting Model's target - A significant resistance/reversal is expected at this level (Moderate - not high - probability, based on qualitative target)


snapshot



David Alcindor
+3 Reply
Yahia.Awes 4xForecaster
a year ago
Hi David,

I've posted my idea on this pair, there is no geometry going on. But the other way to look at it shows me this picture. Personally I'm sitting on my hands here not to short too early. My order at 198 I already placed, but if it plunges earlier I will short earlier indeed. Big fat pips here!

GBPJPY downtrend channel since 1979
+1 Reply
4xForecaster PRO Yahia.Awes
a year ago
@LighthouseKeeper - A potential Bearish Shark isunfolding, in terms of price pattern development (low probability), with the current upswing representing the B-C leg (Shark has the unusual construction of originating from a "zero", such that it would read as a 0-X, A, B, C pattern, where Point-c terminates the Shart at either a 0.886 or at 1.131 of the O-X leg ... So, the spike you are seeking could still occur a bit higher as the 0.886 Fib remains unanswered (again, this is a LOW probability, which is the nature of patterns). What follows a Shark completion is a 5-0 pattern, namely aptly by Scott Carney as it naturally follows the Shark pattern as a fifty (hence, 5-0) percent retracement from completion of the Shark. Among all patterns, the Shark has the highest success of reversing at its termination point (Point-C, and not point-D, for reason explained above, since Point-D is the termination point of the 5-0 pattern).

Look for a potential attainment of the aforementioned 0.886 level, using the Shark as your guideline - Consider Scott Carney's site as THE reference for patterns: www.HarmonicTrading.com ad www.HarmonicTrader.com, one of which has a list of all of his patterns.

Best,


David Alcindor
+1 Reply
Yahia.Awes 4xForecaster
a year ago
Thanks for your help, I will check the links.
Reply
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