Potential Reversal At 11224 Per Background WW Geo. | $DAX #forex
WOLFE WAVE PATTERN:
Potential reversal at 11224 per background Wolfe Wave pattern pending completion at its 5-prime position (i..e: along the 2-4 Line transposed and originating off of Point-3 of the pattern (Blue).
BEARISH OUTLOOK:
Overlay of predictive/forecasting model defines 11224 as a significant reversal potential level. If level holds and sends price back into a declining trend, consider 10593 as a conservative conditional level, whereas 10094 as an opening to the bearish 9745 target.
INVALIDATION OF BEARS:
An Elliott Wave prepares to complete its internal impulse count at both lesser degree (small black font) and higher-degree (large grey font). If and once price completes Point-5 of both impulses, a top-structure would define a level of invalidation if price continued to rally passed it.
OVERALL:
Looking into this coming weak, the predictive/forecasting model calls for a top-reversal at 11224. A decline to the bearish target at 9745 would likely act as a solid floor compared to the two structural levels at 10593 and 10094 - In essence, this week could possible see price tethered between 11224 and 9745 given the structural conditions defined above.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
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Twitter:
@4xForecaster
LinkedIn:
David Alcindor
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Potential reversal at 11224 per background Wolfe Wave pattern pending completion at its 5-prime position (i..e: along the 2-4 Line transposed and originating off of Point-3 of the pattern (Blue).
BEARISH OUTLOOK:
Overlay of predictive/forecasting model defines 11224 as a significant reversal potential level. If level holds and sends price back into a declining trend, consider 10593 as a conservative conditional level, whereas 10094 as an opening to the bearish 9745 target.
INVALIDATION OF BEARS:
An Elliott Wave prepares to complete its internal impulse count at both lesser degree (small black font) and higher-degree (large grey font). If and once price completes Point-5 of both impulses, a top-structure would define a level of invalidation if price continued to rally passed it.
OVERALL:
Looking into this coming weak, the predictive/forecasting model calls for a top-reversal at 11224. A decline to the bearish target at 9745 would likely act as a solid floor compared to the two structural levels at 10593 and 10094 - In essence, this week could possible see price tethered between 11224 and 9745 given the structural conditions defined above.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
Comment:
Price hit target refined on 16 MAY 2015, over 2 years ago:
Expecting significant resistance, probable retracement (not reversal), as higher L/T targets loom.
David