Short @ 77958 On Wolfe | $NZD $USD #forex
Friends,
Price rallied significantly against market expectation, but remained subdued to market geometry.
Dominant geometries here are Elliott Wave's Ending Diagonal ("ED") vs. Bill Wolfe's Wolfe Waves ("WW") patterns, both forming at the tipping-end of a multi-month bearish swing.
INSTITUTIONAL BEARS
There are 3 major banks that have taken bearish positions against the pair versus none long. This institutional bearish weigh will offer the siphoning pull down the twirling drain, pulling price incrementally downward.
The targets pronounced by these banks range between 0.746 and 0.761, with one smacked right at 0.750.
PREDICTIVE ANALYSIS/FORECASTING MODEL:
Model too signaled a bearish bias, defining the following BEARISH targets:
1 - TG-x - 0.74312 - 08 JAN 2015
followed in order by a probable rallying to BULLISH targets:
1 - TG-Hi - 0.78473 - 08 JAN 2015
and
2 - TG-x = 0.81332 - 08 JAN 2015
MARKET GEOMETIES:
Aside from the dominant ED and WW aforementioned above, a larger granular pattern in the form of Scott Carney's 5-0 Pattern remains probable. This is the pattern that has offered a near-alignment with model, defined above as "TG-x = 0.81332 - 08 JAN 2015".
The 5-0 Pattern reflects a 50% (i.e.: five - zero, or 5-0) retracement from completion of the Shark. If you squeezed the chart a little, the advanced pattern trader might decipher a Bullish Shark, which by definition might have defined its Point-C termination differently from the Model's 0.74312, but this is also why I do not use patterns for my trading. As background pattern, there are fine, though.
OVERALL:
Overall, I would consider the force of institutional winds, combined with the reliable Elliott Wave and Bill Wolfe patterning as leading indicators of lead vectors when forming a directional bias here.
A Point-5 should offer a conservative target against a more aggressive Point-5-prime at TG-x = 74312.
Look for persistent Negative Divergences (not bearish!) in RSI, hammering price down at every occasion.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
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Twitter: @4xForecaster
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Price rallied significantly against market expectation, but remained subdued to market geometry.
Dominant geometries here are Elliott Wave's Ending Diagonal ("ED") vs. Bill Wolfe's Wolfe Waves ("WW") patterns, both forming at the tipping-end of a multi-month bearish swing.
INSTITUTIONAL BEARS
There are 3 major banks that have taken bearish positions against the pair versus none long. This institutional bearish weigh will offer the siphoning pull down the twirling drain, pulling price incrementally downward.
The targets pronounced by these banks range between 0.746 and 0.761, with one smacked right at 0.750.
PREDICTIVE ANALYSIS/FORECASTING MODEL:
Model too signaled a bearish bias, defining the following BEARISH targets:
1 - TG-x - 0.74312 - 08 JAN 2015
followed in order by a probable rallying to BULLISH targets:
1 - TG-Hi - 0.78473 - 08 JAN 2015
and
2 - TG-x = 0.81332 - 08 JAN 2015
MARKET GEOMETIES:
Aside from the dominant ED and WW aforementioned above, a larger granular pattern in the form of Scott Carney's 5-0 Pattern remains probable. This is the pattern that has offered a near-alignment with model, defined above as "TG-x = 0.81332 - 08 JAN 2015".
The 5-0 Pattern reflects a 50% (i.e.: five - zero, or 5-0) retracement from completion of the Shark. If you squeezed the chart a little, the advanced pattern trader might decipher a Bullish Shark, which by definition might have defined its Point-C termination differently from the Model's 0.74312, but this is also why I do not use patterns for my trading. As background pattern, there are fine, though.
OVERALL:
Overall, I would consider the force of institutional winds, combined with the reliable Elliott Wave and Bill Wolfe patterning as leading indicators of lead vectors when forming a directional bias here.
A Point-5 should offer a conservative target against a more aggressive Point-5-prime at TG-x = 74312.
Look for persistent Negative Divergences (not bearish!) in RSI, hammering price down at every occasion.
Stay tuned,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: @4xForecaster
-----