This pair has been quite clement with us, as it has consistently adhered to the Predictive/Forecasting Model forecast in recent and distant analyses.
At this time, there is a high-probability of reversibility, based on the Model's Qualitative Target having been reached at 187.590 from prior depth.
The current Predictive/Forecasting Model outlook does not consider a return to the abysmal level, but instead to a 181.338/180.939 range.
This is consistent with a background Geo overlay in which price might be under the "Off-Set Rule" constraint,mulling a probable decline and respite at the level corresponding to Point-4.
OVERALL:
Invalidation of the forecast would occur with price carving a structural high, whereas a conservative engagement in a trade would wait for a commitment below the 185.95 level - Not a trade recommendation: All educational, as we continue to elaborate on the Wolfe Wave and refine market-geo rules around this advanced geometry.
Best,
David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA
David, I was short from the point u mentioned :) @187.14.. Now this pair reached new high of the year. When it gonna reverse, what do you think ?
4xForecaster
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@shayalmathew - The forecast became invalid the moment price carved a structural high (from the riginal analysis: "Invalidation of the forecast would occur with price carving a structural high, whereas a conservative engagement in a trade would wait for a commitment below the 185.95 level").
David
alex.a
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Can you define "structural high" so that one can make a picture of "structural high?"
4xForecaster
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@alex.a - A structure can be thought of a peak or trough. A structural high is the most proximal or most recent highest peak. A structural low would be the most recent low.
David
klionclinkz
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Is it possible to short now with stops at 190.60 ?
alex.a
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Current time frame's swing high?
ElPatron.Y
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Hi David,
On a bigger TF (weekly), this is what I'm seeing. What is your opinion on it?
4xForecaster
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Hello @LighthouseKeeper - That would be too early for me to tell. I would not have enough data to draw any conclusion at this point. However, a rallying into higher-highs would be in line with completion of Elliott Wave's 5th wave.
David
ElPatron.Y
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I am shorting here to buy again at 183 area, for higher targets if the situation remains the same.