After ignoring a potential recoiling forecast, instead X took off in the overall forecast direction. On March 20th, it hit the first structural target dead-on, then proceeded to consolidate for 24 hours (6 subsequent candles). However, as of this 4-hour candle, price built the necessary base for a renewed rallying towards our lofty "TG-1 = 30.42 - 18 MAR 14" target.
So far, so good.
Looking ahead, I would caution traders to look for a potential relief decline back to this defined based, thus using the prior resistance as a new support, although price has had the vigor to continue forward before, so a straight 0ne-breath shot to the target is a lesser but reasonable possibility.
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Thank you for your support and friendly referrals!
Cheers,
David Alcindor
Predictive Analysis and Forecasting
- Simply follow me: @4xForecaster.
4xForecaster
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NOTE: More signals, more analyses. More forecasts coming ...
Thank you for your kind Twitter support and friendly referral through colleagues and friends.
Cheers!
David Alcindor
Predictive Analysis &Forecasting
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- All signals, analyses and forecasts are for educational purposes. Do your own due diligence. Use TradingChart.com to share your analyses with me or friendly traders on the site.
4xForecaster
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21 MAR 2014 - Trade Update:
Structural target @ 27.30 reached and hit dead-on as per forecast. Bullish outlook and initial predictive analysis and forecast remain unchanged.
Cheers,
David Alcindor
4xForecaster
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20 MAR 2014 - Trade Update:
PA did not follow our precautionary unwinding to wards EAGLE, but instead moved on to carve higher highs.
Overall, no change in predictive analysis and forecastign
Cheers,
David Alcindor
TraderBoo
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Your projection would make this a great trade ( E.A.G.L.E.) as in eagle has landed whats your thoughts on the up swing and why it would turn down first after sweeping price increases in the industry?? Do you think Steel company's in general will get a Bid MT, AKS, X, NUE, STLD your trend line has max upside around the 4/9/2014 is this a correct interpretation of your projection??
TraderBoo
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Sorry I meant 5/9/2014 for upside target correct??
4xForecaster
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Hi, @TraderBoo - The end of the arrow does NOT point to a time forecast, but to a price level. Here are the directional signs (not trading signals) for the symbols you have referred to (I think that the underlying sovereign country in which that stock belongs might most likely impact the price of the underlying stock - I am not convinced that a well bid X would necessarily carry other related stocks. Instead, I expect the whole construction sector to respond to domestic developments at first, but remain subject to the global concerns affecting commodities):
1 - MT: Early bearish sign; bearish reversal confirmation signal pending
2 - AKS: Needs to break above 7.04 structure high to challenge current bear strength
3 - X: Early bullish market reversal as stated before; pending confirmation
4 - NUE: Confirmed bear strength dominance; 51.03 caps potential relief rally, which would complete bearish 3-Waves; needs 51.55 break to convert bears to bull
5 - STLD: Confirmed bear dominance; eyeing $15.85 support
Again, keeping one stock (X) seems well bid for now and emits signs of potential rallying, but the same can not (yet, or at all) be said of other industry-complicit stocks.
Friends,
After ignoring a potential recoiling forecast, instead X took off in the overall forecast direction. On March 20th, it hit the first structural target dead-on, then proceeded to consolidate for 24 hours (6 subsequent candles). However, as of this 4-hour candle, price built the necessary base for a renewed rallying towards our lofty "TG-1 = 30.42 - 18 MAR 14" target.
So far, so good.
Looking ahead, I would caution traders to look for a potential relief decline back to this defined based, thus using the prior resistance as a new support, although price has had the vigor to continue forward before, so a straight 0ne-breath shot to the target is a lesser but reasonable possibility.
Get my TradingView forecast instantly through Twitter.
Thank you for your support and friendly referrals!
Cheers,
David Alcindor
Predictive Analysis and Forecasting
- Simply follow me: @4xForecaster.