- Condition: 115.551 failure
- Opens to:
1 - TG-Lo =104.750 - 05 JAN 2015
2 - TG-x =101.493 - 05 JAN 2015
Structural Relevance applies to latter ("TG-x =101.493 - 05 JAN 2015")
(Note that separate analysis on the UDX and USDollar index were denounced as potential reversal contenders per predictive model - See third link attached below for these analyses.)
A projection of parallels define a plausible , whose upper projection caps the most recent impulse. The overall system defines a with multiple validation points at specific R/S levels and gaps, adding credence to these lines.
Still, a set of condition remains to be met, as defined below.
Recent rally appears to have reached a plausible 5th wave extension with internal dynamics of a completed impulse. A rallying to higher highs would cancel this proposition, but a break below 115.551 would add credence to further downside.
PREDICTIVE ANALYSIS & FORECASTING:
Predictive model has defined the targets just mentioned above. As indicated, the first nominal target calls for a low-probability attainment and high-probability reversal at 104.750. However, a worst-case scenario played out in the model comes defined as TG-x = 101.493. This latter low-probability target/very-high-probability reversal falls in line with a significant historical R/S level, as highlighted in the chart.
Standard technical pattern, predictive model and two-degree wave count point to a potential resistance at recent structural high of 121.838.
If recent support at 115.551 fails, the floor would open possibly to the predictive model's forecasts of TG-Lo = 104.750 and TG-x = 101.493.
These outlook corroborate well with recent forecast against the USD. For the time being, the directional bias remains set at "Neutral" based on mitigating reasons defined above.
Predictive Analysis & Forecasting
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Sorry for this late reply ... Still vacating.
Yes, this looks like a high-probability set-up:
1 - 1-2 Leg: Symmetrical ab = cd
2 - 2-3 Leg: Complex ZZ
3 - 3-4 Leg: Simple ZZ
5 - "Tunneling" of the 1-4 Line appears consistent throughout
6 - Point-5 might appear at a significant Fib extension relative to the 1-2 and 3-4 Legs, in the order of 1.131, 1.272, 1.313, or 1.414-Fib.
I'm looking at it thru my phone, but it definitely looks promising.
Note also that, based on the "Tunneling" concept, Point-4 remains un-confirmed. So, expect a rallying of price towards that 1-4 Line, such that a relative structure high will help confirm the final residence of Point-4. In the same manner, Point-5 remains pending, and may in fact be expressed via an ectopic 5' or 5", since the real interest here is not primarily to see the completion of the geo (although use it for the "audience" to gain a visual tracking), but to confirm that the Predictive/Forecasting Model, which produce the bearish target as "TG-Lo = 117.134 this past 06 MAR 2015, gets hit, as it often does:
$USDJPY moved above geo; About to define 5' near Bearish Entrenchment range as forecast:
@tradingview $USD $JPY