As we are hitting concepts of and Geo hard tonight, here is another opportunity to witness a probable geometric cycle completion of the WW/Geo:
We already covered significant ideas and topics through $USDTRY and $NZDJPY charts, so here there are for your review, with a step-by-step review of how I construct the Geo ... These charts are live and still going on as I write this (click on chart for lessons/review of concepts):
1 - $USDTRY:
2 - $NZDJPY:
I hope you will start finding the and the Geo easier breeds of market geometries to trade. I will continue to offer information and relevant details as this and other referenced charts develop.
Predictive Analysis & Forecasting
Durango, Colorado - USA
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Nice, clean retraction of price off of TL; Long position remains intact. We will continue to follow this trade with M15/H1 calibration when necessary. Goal here is purely based on the Geo, which is to reach the 1-3 Line. The Predictive/Forecasting Model might also help provide a more precise target as well, but again, the 1-3 Line is really what matters at this early development (Point-4 completion, looking to close the 5-plot cycle) of the Geo.
Target "TG-LO" which I just posted with the parameters for invalidation (the 2 pink arrows in the chart just posted a few minutes ago, now the single GREY arrow in the following chart) just got hit.
I have also outlined the TL of the Wolfe Wave, which would set any SL at a lower level. If the Geo's TL is breached, I would lose my long position towards Point-5 (i.e.: along the 1-3 Line), but I would not re-enter immediately. Instead, I would recommend letting the Elliott Wave play itself out at one lesser degree.
The Predictive/Forecasting Model produced this TG-Lo, but TG-Lox would be a lower target of lesser probability, whereas the WL would demand of me to shift to a higher timeframe - These are the contingent conditions I am left to work with as I took this long position.
My entry at the following trigger (TG-Lo):
SL at TL. Since this is a slope, the SL is a dynamic point that will keep on rising as chart moves to the right.
Target is the 1-3 Line.
Not a trade recommendation; Just sharing how I view and trade things.