Potential Rallying At 1.49 | $DUST $BARS $NUGT $Gold #forex
- TG-Lo = 1.49 - 17 DEC 2014: Low-Prob Attainment, High-Prob Reversal
- TG-x = 0.83 - 17 DEC 2014: Extreme Target/Invalidation level if breached
- Entrenchment: 21.16/23.08 range
- 0.618-Fib retracement at 22.81 into predictive model's entrenchment
- Point-2 results from a w-x-y-xx-z complex correction
- EWP's Rule of Alternation call for simpler 4th wave formation
- validation at/near predictive model values
impulse's upper and lower nodule draw core geometry at/near historical ~ 14.00/14.14
Technically-driven outlook. Proprietary pattern (Great White) call for rallying in this vicinity. Unwinding of price to the upside calls for high-probability Fibonacci guidance to standard 0.618 level.
spike likely institutional, acting much like stopping activity. This should be regarded as suspicious, in preparation of a probable counter-trend price action.
Alignment of 0.618-Fibonacci with Model's entrenchment adds credence to rallying target - Expect a temporizing event at/near 14.00 level.
Predictive Analysis & Forecasting
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Looking at a finer granular level, $JNUG is offering a chance to follow its geometry, as illustrated. The background Predictive/Forecasting Model calls the following target (see illustration). The top-most value represents a calibration threshold, whereby, if transgressed, would require a revision of the analysis at a larger timeframe (typically a 4-fold order of magnification, or H1 x 4 = H4).
I was lucky enough to have received a hint from a gold-trading friend at McAlvany, so I got in at a rock-bottom ow entry before the split. As continue to follow this long position. However, from time to time, I will share lesser timeframes, for those interested in finer granular development.
In the following chart, a geometry is unfolding. As you are perhaps now aware, there are three core rules to this geometry, which I have developed as a refinement of the Wolfe Wave:
1 - Off-Set Rule
2 - Geo Anchor Rule
3 - Tunneling Rule
A lesser rule is that of determining a zone of consolidation using the impulse waves of Elliott Wave (most of these rules are explined throughout my analyses, but the EW can be found here: https://www.tradingview.com/chart/DXY/vDLTGehO/#tc171944 ).
Here is the chart as it unfolds: