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BOC

Short Opp @ 93.995 On The Move | $CAD $JPY #BOC #BOJ #ForexFriends, In case you had missed one of the many signals I release via my Twitter alias, @4xForecaster, here is a repost of the tweet from this June 03rd, 2014: --------------------------------- "$CADJPY - Short opp @ 93.995 - SL trader's tolerance risk (mine: 94.03 = 93.995 + spread) - S/T TP@ 93.371 - L/T TP@ 91.489 - High RR" --------------------------------- Time-posted source: twitter.com As of this morning, the trade is well on its way, although today's data may frustrate the plan. Nonetheless, I thought it was worth posting this for the record, as price continues to near the S/T target at 93.371. Added downside exists on a technical basis, but the force of the fundamentals might tip the balance one side or another between here and the more abysmal target. More on this as time elapses. While the trade was generated based on a technical basis, the predictive/forecasting model remains at an impass, between a S/T bearish bias and a L/T bullish bias, making the directional bias a "Neutral" one, and elevating this trade at a highly-speculative level. Cheers, David Alcindor Predictive Analysis & Forecasting --------------------- Twitter: @4xForecaster Forecast archive: bit.ly ---------------------
by 4xForecaster
1
Broke Triangle; Remains In Channel; Mixed picture | $CAD #forexFriends, Last March 12th, 2014, I defined the following preliminary targets: 1 - 1.11998 and 2 - 1.14694 These targets remain in force and in sight, based on a combination of technical validations, namely: PROS: 1 - A potential Elliott Wave Wave-4 completion of a diagonal triangle 2 - Added validation of a long-term channel at recent rally point 3 - Model remains bullish, but calls for interim decline CONS: 1 - About 2 months ago, I released a Wolfe pattern target @ 1.07445. While price has moved towards it, it remains incomplete. This comes in direct contradiction with above technical picture, since validation of this bearish target would pull price out of the channel fenestration. Use TradingView's replay feature to see how well price action has moved towards said target - Target released: - Updated: 2 - While model remains bullish, the interim decline could break below the recent structural lows, thus invalidating above technical-based analysis. In doing so, it would affirm the robustness of the model, though, which in the H4 timeframe did define 1.07445, but in the daily frame sees higher highs. Based on the third point above, a signal remains pending. However, considering the disproportionate amount of classic pattern traders I am assuming exists, I thought it was worth highlighting the recent technical picture, which seems to support a continuation of the price action upwards, based on simple pattern (wedge and channel). As indicated earlier, the model remains bullish, but does call for an interim relaxation to the downside. I expect price action to remain above recent lows - Directional signal will be kept at "Neutral" until signal falls in line and reinforces the dominant technical picture. Cheers, David Alcindor Predictive Analysis & Forecasting --------------------------- Twitter: @4xForecaster ---------------------------
by 4xForecaster
11