A very quick note ...
Here is one that turned around quite fast and reinforced a market reversal confirmation. targets are as follows:
TG-1 = 4.052 - 26 MAR 2014, moderate probability
TG-Lo = 3.481, low probability
More on this chart as price action unravels.
Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of , classic , basic and trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)
Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
"$NGAS hit target @ 4.217; Expect structural rally up to 4.500; Bulls still prevail: via http://www.tradingview.com"
First soft target reached. Expect a potential rally up to structures defined in the chart - I expect that 4.500 would impose the fiercest level of resistance and push bears to lower lows towards the next target levels.
"$NGAS maintains bearish bias; strongest resistance @4.603; targets intact and in force - via http://www.tradingview.com"
Ever since signal released at RED arrow within triangle, price fell. HOWEVER, it failed to reached the first forecast target and instead retreated short of the structure-high level near the 4.850 value.
Since that retreat, price resumed its downward course. In that downwards resumption, a bearish reversal signal confirmation appeared within the predictive/forecasting model.
At this point, bearish targets remains intact and in force.
First two red marks are based on historical structures. Bottom target is based on predictive analysis/forecasting system.
While the overall pattern favors bears, a recent rally was controlled within the confines of a rising wedge. A 5-point resistance and 3-point support defined the wedge until a recent break below support followed by validation of support-turned resistance.
If this resistance remains in force, this would further validate the downside potential, opening to structures as defined by this additional inserted chart.
I defined 4.602 as a potential reversal signal in structural analysis, as a potential indicator of forecast failure.