4xForecaster

High-Prob Decline To Wolfe 1-4 TP Line | $XAU $XAG $Gold #forex

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
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28
PATTERN PROFILE:

Bill Wolfe's Wolfe Waves Pattern - Completed
Target = 1-4 Line ("Take-Profit" Line)
Trigger = 2-4 Line R/S action/reaction
SL = 1232.55


PREDICTIVE/FORECASTING MODEL:
- Future R/S Levels:
1177.42
and
1165.85

- High-Prob Reversal:
TG-1 = 1153.76 - 11 DEC 2014

INVALIDATION:
BACA > 1232.55

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Note: Recent analysis suggested a rallying into the 1231.93-1226.34 range, which held per forecast. At this point, a background Wolve Waves completed (see pink plots: 1-2-3-4-5). The pattern's 2-4 Line acted as support until a recent breach and small rally, stomped at the line's underbelly.

Expectation here is a price compliance to background geometry, which demands further completion towads its 1-4 Line projection as dynamic support.

Static support is further defined by TG-1 = 1153.76 - 11 DEC 2014, a low-probability attainment, but high-probability reversal target.


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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Twitter: @4xForecaster
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Comments

22 DEC 2014 - Update:

From Twitter:
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$XAUUSD continues to move in earnest along forecast line:



via @UnknownUnicorn305 $XAU $USD $JNUG $NUGT $GOld $XAG #forex
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David Alcindor
+3 Reply
Sokun 4xForecaster
What kind of reversal can we expect ?
Reply