4xForecaster
Short

Bearish Target Nearing ... Support @ 101.631 | $USD $JPY #forex

FX:USDJPY   U.S. Dollar / Japanese Yen
Friends,

Here is a short update:

Since the signal announcement this yesterday, the $Yen plunged gradually, then precipitously towards the forecast TG-1 = 101.631.

This signal followed a preceding bullish signal that say all three targets getting hit consecutively, before we turned to this short-term short opp             .

At this point, TG-1 remains in force and intact, as the predictive/forecasting model has not produced any contradictory signal to perturb the current forecast.

The colored arrows in the chart speculate a probable price action path and do not reflect a timing anticipation - Until then, good profits!

Cheers,

David Alcindor
Predictive Analysis & Forecasting
TradingView moderator

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14 MAY 2014 - Chart/Trade Update:

Price hit.



Looking at strengthening of USD across Forex market.

Cheers,

David Alcindor
Predictive Analysis & Forecasting


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Reply
Went short last night after Japan macro. Don't understand why the pair went up. I almost hanged myself :P 2 times up and then down it goes. What a crazy move!
+1 Reply
@KevinT,

Here is my deep-seated belief about price action - Hence my repeating the same rant:

- "Price is the carrot that dangles at the end of a stick held by institutional hands"


So, the charts will lead economic data release:

Banks decide on a price-moving action -> Institutional Traders receive the call to move -> Price moves in the banks directed decision -> News releases banks' opinion -> Retail market absorbs discrepancies

Just my opinion, but that is why I do not trade off of price - My model uses a non-price source to determine direction, reversal, support/resistance.

In essence, price is the pavlovian movie screen we are told to regard above anything else - Beware of the screen, my friend.

David
Reply
KevinT 4xForecaster
I fully agree the market is manipulated by the big players. But last nights'nts were solid macro's numbers.

What I think about the 2 spikes up is the bg boys/algo's trying to make their market by hitting stop loss of shorters and lurking buyers in, so they ahve the market to short this pair. Usually this happens right after the release of macro data. Strange thing this time is...it took much longer.
+1 Reply
15 MAY 2014 - Update:

Looks like the trade consumed itself, and the greenback is regaining across all/most majors.

I am working on a WEEKLY EURUSD chart, in which a prop pattern ("Euclid Pattern") has come to near-perfect alignment with a weekly TG-1 line. The overlaid patterns are the Wolfe Waves pattern, and I highly recommend that traders become familiar with this Wolfe Pattern (Google it, worth adding into your armamentarium, IMHO).

EURUSD chart coming up. Soon - In the mean time, I remain guarded AGAINST any pairs coupled against the USD, based on predictive analysis/forecasting model starting to lean towards a neutral to bullish directional bias.

Cheers,


David Alcindor
+1 Reply
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