4xForecaster
Short

$GBP v $NZD - Structural Analysis: Limited Upside | #BOE #forex

FX:GBPNZD   British Pound/New Zealand Dollar
1225 25 30
Friends,

Following a back to back Elliott Wave Contracting Triangle (with internals a-b-c-d-e), wherein point-e offered a significant point of departure, we are now looking at a potential range-bound play, as defined by the underbelly from the first a-c Line extension on the upside, and a double-bottom support extended forward from similar 10 AUG and 23 AUG rejection levels.

snapshot

Note that the a 0.618-Fibonacci level corroborates the upside resistance narrative near 2.4278. Also, worth heeding is RSI relative to its own resistance trendline, which may or may not guide us in following the ensuing price action.

We will continue to follow this play with the expectation that price might be range-bound in the most immediate time horizon, with a net-bearish outlook for this pair.

Best,


David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


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

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
Great analysis..! I have the same view here.. Am i allowed to post a chart in your post?
+2 Reply
4xForecaster PRO Fxprotrader
a year ago
Hello @Eleven40_FXTrader - Yes, absolutely. As long as it is commercial free and does not take the crowd off to some self-serving domain, then yes, by all means.

If at all possible, I invite traders/technicians to weigh in using as objective data, tools, indicators as possible. Opinions are not really relevant if it cannot be supported by hard, objective and visible indicators that others can verify on their own.

Great!

David
+4 Reply
Fxprotrader PRO 4xForecaster
a year ago
Great thank you very much..!
snapshot

In the monthly chart we see that price tests a key resistance level and in the daily we see a bearish divergence. Well done 4xForecaster, great analysis..!
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+2 Reply
4xForecaster PRO Fxprotrader
a year ago
Hi, @Eleven40_FXTrader - Excellent.

snapshot


Yes, the current rallying is expected to occur in a zig-zag, noted as (A)-(B)-(C) in your chart (above). This ZZ will likely be offering the axis around which the larger reciprocal ab = cd I posted earlier (see also following chart) will help reverse price to levels shown down below. This could be a two-way ride, if this all works out all right.


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David Alcindor
+2 Reply
Fxprotrader PRO 4xForecaster
a year ago
Ok David..! Thank you so much..! I will be around with this one and i will be following you for sure.. Have a nice day..!
+2 Reply
4xForecaster PRO Fxprotrader
a year ago
Hey, thank you @Eleven40_FXTrader - Much appreciated you following these analyses.

David
+3 Reply
27 SEP 2015 - ADDENDUM: Tech-Note:

Those traders seeking simpler geometric interplays might perhaps appreciate this reciprocal ab = cd symmetry as supportive argument for a limited upside against structure defined above:


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David Alcindor
+2 Reply
4xForecaster PRO 4xForecaster
a year ago
CORRECTION - I have displaced wave iv to the right, to represent a more accurate 5th wave completion - Appreciate any Elliotician out there to weigh in as well wherever necessary:


snapshot



David Alcindor
+2 Reply
28 SEP 2015 - Chart Update / Tech-Note:


Price rallied right off of the delivery of the analysis/forecast, now breaking over new structure - Bullish.


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David Alcindor
+3 Reply
28 SEP 2015 - Chart Update:


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David Alcindor
+3 Reply
kmk.msp 4xForecaster
a year ago
is upside move remaining as per your forecast as price after some rally has moved down sharply
+2 Reply
4xForecaster PRO kmk.msp
a year ago
Hello @kmp.msp - I do NOT believe that it will follow the original dashed pathway, as price has already broken below support.

However, here is what I am confident, in terms of anticipated price action (not based on the Predictive/Forecasting Model, though) - See chart and following comment:


snapshot



First, price has retraced up to a significant 0.38.6 Fibonacci handle, it them pierce through the from from whence it came ...

Second, this means that a rallying to higher highs is LESS probable ...

Third: However, I have left that large arrow to indicate a likely rallying and reversal back to lower lows ...

And fourth and final, the projection remains in the vicinity of the original targeted zone, which represents a 1.414-Fib extension handle.

This is the best probable scenario I can anticipate at this time (again, probable but never certain).

Best,


David Alcindor
+2 Reply
kmk.msp 4xForecaster
a year ago
here my view Sir
GBPNZD forming Bearish WW
+2 Reply
4xForecaster PRO kmk.msp
a year ago
@kmk.msp - Just as I am making an argument to not use my own blind-man cane (The Geo and Wolfe Wave), here you are coming up with a contrarian argument, in terms of tool use and direction. I love it.


David Alcindor
+2 Reply
4xForecaster PRO 4xForecaster
a year ago
Sorry, I was referring to the $USDJPY chart ... Just realized that.

Very cool.


David
+2 Reply
kmk.msp 4xForecaster
a year ago
I know David also following your USDJPY chart
+2 Reply
4xForecaster PRO kmk.msp
a year ago
That you for that.

D.
+1 Reply
kmk.msp 4xForecaster
a year ago
lol i am now addicted to WW
+2 Reply
4xForecaster PRO kmk.msp
a year ago
@
kmk.msp - Once you get the "mind's eyes" for it, there is no possible way to peel that lens off of your eyeballs. It's everywhere. I mean, e-ve-ry-where ... Charts, walls, tiles and coffee stains. Well, perhaps not the latter.

Bill Wolfe did an incredible mind twisting job deciphering that one out. My refinement of the WW into the Geo was simply to establish a probability rule in terms of attainment, once I saw that price excursions from the 1-3 Line were sometimes associated with a missed 1-4 Line.

I am VERY glad you are seeing these geometries as they occur.


David
+3 Reply
kmk.msp 4xForecaster
a year ago
thanKS for your appreciation David.
+1 Reply
02 OCT 2015 - Chart Update:


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David Alcindor
+2 Reply
JoeUrgo 4xForecaster
a year ago
Excellent David, thanks for sharing.
+2 Reply
05 OCT 2015 - Twitter/LinkedIn Chart Update: Target Hit

$GBPNZD followed forecast path, Hit target - Closing chart:

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$GBP $NZD $USD #BOE #sterling #RBNZ #kiwi #forex


David Alcindor
+2 Reply
kmk.msp
a year ago
Its being a long time that you update you model on GBPNZD. Here is my view David. Looking forward for you opinion/suggestion
GBPNZD

kmk.msp
Reply
kmk.msp
a year ago
GBPNZD
Reply
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