As per predictive/forecasting model, price hit target dead-on. This occurred right about market close, which may be what this market needed to offer a surprise "releif rally" to the next model's target, defined last September 10th as:
TG-Hi = 0.84838 - 10 SEP 2014
(see recent analysis via TradingView's "Related Ideas" linked below).
More refined analysis and forecasting as market re-opens.
Have a wonderful week-end.
Cheers,
David Alcindor Predictive Analysis & Forecasting Denver, Colorado - USA
Significant 50% symmetry has been achieved in recent price consolidation around the TG-1 level.
A H4 magnification (not shown here) also suggests a geometric completion of a potential WW/ vs. EW's Ending Triangle.
Overall: Current geometries favor rally. Look into your own familiar indicators for a possible relief rally from here.
David Alcindor "
kmk.msp
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rally for target of TG-Hi?
4xForecaster
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At this point, price ignored TG-Hi. Instead, it moved on towards its lower target: TG-2 = 0.7866 - 10 SEP 2014.
I would need to let price churn through its pathway before assessing the height of its reactive rally, which is expected to occur in a corrective fashion.
David
HamedAghajani
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Hi David. There is also a bullish Cypher completed on weekly TF at about the current price level. Kindly, Hamed
4xForecaster
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Thank you Hamed - David
4xForecaster
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23 SEP 2014 - Note:
Daily notes, technical commentaries, lessons and pearls will be provided in the "Predictive Analysis & Forecasting" chat room. Feel free to follow these added details there (Link: tradingview.com/chat/ Only significant technical events will be posted in this present discussion thread, so as to avoid too much unnecessary technical information for the trader and chartist interested only in major technical events.
@KMK.msp - Both 1-3-5 and 2-4 Lines have to move in the same direction (i.e.: both are either sloping up or both are sloping down) and contract towards one another (i.e.: 1-3-5 and 2-4 are coming closer to one another) - Is this answering your question?