$NZDUSD - Lesson: How To Build, Enter, Trade 4xForecaster's Geo
Friends,
As we are considering the much larger timeframe of this $NZDUSD pair, TradingView @iefan posted a potential Wolfe Wave on that thread.
Following is the Wolfe Wave chart, which he correctly constructed:
A slight modification is made using the internal geometric requirements of the "Geo", which yield a very similar geometry, but the rules of engagement ("ROE") call for higher probability targets that what is originally defined in the Wolfe Wave, namely the "Off-Set Rule" - See following chart illustrating the basic internal constrictions:
In its most basic internal construction rule, the Geo prefers the following conditions:
1 - In essence, the "Geo" PREFERS that the 1-2 Leg defines Point-1 retrospectively using the cd segment which terminates at Point-2 to define Point-1 via the use of the reciprocal ab = cd symmetry;
2 - It also prefers that the 2-3 Leg be an Elliott Wave Triple-ZigZag ("TZZ");
3 - It also looks for a simple zig-zag of the 3-4 Leg
In terms of defining Point-5, there are three possibilities:
1 - Point-5 exists along the 1-3 Line;
2 - Point-5-prime (5') exists along transposition of the 2-4 Line originating at Point-3;
and
3 - Point-5-second(5'') exists along transposition of the 2-4 Line originating at Point-1.
Above construction is important, as it leads the the HIGH-PROBABILITY target definition of the rule defines as "Off-Set Rule", which suggests that:
1 - If price rallies from Point-5, it will have a high probability of attaining the 1-4 Line (this is the basic Wolfe Wave rule)
2 - If price rallies from Point-5', it will have the high probability of attaining the price level corresponding to Point-4
and
3 - if price rallies from Point5'', it will have the high probability of attaining the price level corresponding to Point-3.
In terms of entry, the following rules address a grading level of aggressiveness, namely:
1 - An aggressive entry would allow the trader to enter at the moment price validates Point-5';
2 - A standard entry would allow the trader to enter at the NEXT candle-open, following the crossing AND closing across the 1-3 Line;
and
3 - A conservative entry would allow the trader to enter at the NEXT candle-open, following the crossing AND closing across the price level of Point-3
OVERALL, the pair remains bullish. This smaller interval is worth consulting, as it looks at a finer granular level. IF and once price arrives at the target, we would shift our attention to that larger scaled set up.
Thank you @iefan for suggesting this great find at this smaller timeframe.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
As we are considering the much larger timeframe of this $NZDUSD pair, TradingView @iefan posted a potential Wolfe Wave on that thread.
Following is the Wolfe Wave chart, which he correctly constructed:
A slight modification is made using the internal geometric requirements of the "Geo", which yield a very similar geometry, but the rules of engagement ("ROE") call for higher probability targets that what is originally defined in the Wolfe Wave, namely the "Off-Set Rule" - See following chart illustrating the basic internal constrictions:
In its most basic internal construction rule, the Geo prefers the following conditions:
1 - In essence, the "Geo" PREFERS that the 1-2 Leg defines Point-1 retrospectively using the cd segment which terminates at Point-2 to define Point-1 via the use of the reciprocal ab = cd symmetry;
2 - It also prefers that the 2-3 Leg be an Elliott Wave Triple-ZigZag ("TZZ");
3 - It also looks for a simple zig-zag of the 3-4 Leg
In terms of defining Point-5, there are three possibilities:
1 - Point-5 exists along the 1-3 Line;
2 - Point-5-prime (5') exists along transposition of the 2-4 Line originating at Point-3;
and
3 - Point-5-second(5'') exists along transposition of the 2-4 Line originating at Point-1.
Above construction is important, as it leads the the HIGH-PROBABILITY target definition of the rule defines as "Off-Set Rule", which suggests that:
1 - If price rallies from Point-5, it will have a high probability of attaining the 1-4 Line (this is the basic Wolfe Wave rule)
2 - If price rallies from Point-5', it will have the high probability of attaining the price level corresponding to Point-4
and
3 - if price rallies from Point5'', it will have the high probability of attaining the price level corresponding to Point-3.
In terms of entry, the following rules address a grading level of aggressiveness, namely:
1 - An aggressive entry would allow the trader to enter at the moment price validates Point-5';
2 - A standard entry would allow the trader to enter at the NEXT candle-open, following the crossing AND closing across the 1-3 Line;
and
3 - A conservative entry would allow the trader to enter at the NEXT candle-open, following the crossing AND closing across the price level of Point-3
OVERALL, the pair remains bullish. This smaller interval is worth consulting, as it looks at a finer granular level. IF and once price arrives at the target, we would shift our attention to that larger scaled set up.
Thank you @iefan for suggesting this great find at this smaller timeframe.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.