$CAD vs. $JPY Weaving #elliottwave 3rd Wave; Model Eyes 98.148
Traders,
Price finally broke below the 1-2-3-4-5 internals, indicative of a EAGLE completion and origination of an Elliott Wave's ("EW") 1st Wave of a larger nascent pattern.
Current prolongation appears to be an EW Wave-3, with an uncertain end-point, except for a potential retracement level from:
- TG-1 = 98.148 - 22 SEP 2014.
This retracement would be most possible if price rallied above 98.608, opening a resistance ceiling at a standard 0.618-Fibonacci bearish entrenchment. Still, a stronger bearish entrenchment exists in the 99.615/99.450 range.
Another scenario would see a EWP 3rd Wave Extension, thus providing a straighter route to the model's lowest value at:
- TG-Lo = 97.375 - 22 SEP 2014
These are speculative price pathways based on a predictive/forecasting model defining both retracement and reversal targets as defined above. All values are derived from structures, Fibs and predictive/forecasting model, and are posted as suggestions.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-------------
Twitter: 4xForecaster
-------------
Price finally broke below the 1-2-3-4-5 internals, indicative of a EAGLE completion and origination of an Elliott Wave's ("EW") 1st Wave of a larger nascent pattern.
Current prolongation appears to be an EW Wave-3, with an uncertain end-point, except for a potential retracement level from:
- TG-1 = 98.148 - 22 SEP 2014.
This retracement would be most possible if price rallied above 98.608, opening a resistance ceiling at a standard 0.618-Fibonacci bearish entrenchment. Still, a stronger bearish entrenchment exists in the 99.615/99.450 range.
Another scenario would see a EWP 3rd Wave Extension, thus providing a straighter route to the model's lowest value at:
- TG-Lo = 97.375 - 22 SEP 2014
These are speculative price pathways based on a predictive/forecasting model defining both retracement and reversal targets as defined above. All values are derived from structures, Fibs and predictive/forecasting model, and are posted as suggestions.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-------------
Twitter: 4xForecaster
-------------
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.