Late Entry: $NZD vs. $JPY: Predictive Analysis/Forecast #forex
Traders,
Sorry for this late entry. Analysis originates from early December - Please, ignore TG-1 hit to keep it honest.
Here is what I posted as a retrospective commentary on the "Predictive Analysis?Forecasting" chatroom today - I hope this makes things right by you:
===============================
* * * 10 DEC 2014 * * * - H4:I thought I saved this chart as a preliminary study on December 02nd, 2014, when I built the chart. However, I cannot locate the chart in TradingView. Please, ignore the dates on the chart, as it may give the impression that I defined the targets after the fact. My apologies on that. Still, the analysis/forecasting is genuine and original.Analysis should have included a comment on NZD expected decline based on bearish dairy news and sovereign central bank action towards keeping or decreasing rates (very bearish for NZD) versus recent analysis on the and
ES revealing a probable reversal - It hit target since then and rolled quite drastically. The NET effect on should be a cantilevered force to the downside on the pair. David Alcindor
================================
(Source: tradingview.com/chat/ )
In any case, the primary target was easily identifiable by its relation to Fibonacci's 1.414 and 1.618 extensions following completion of 5th wave.
Price has since reversed to the projection of a lower bullish trendline born out of Point-4 and the next higher low point.
For fundamental reasons stated above, the market is likely to maintain bearish pressure at these levels.
On technical grounds, I would look for the failure of 91.810 as an early indication of further softening of bullish ground, thus opening up to the following bearish targets:
1 - TG-1 = 90.796 - 02 DEC 2014 (done already, but likely to impose a R/S effect on price action)
2 - TG-2 = 80.517 - 02 DEC 2014
3 - TG-Lo - 87.662 - 02 DEC 2014
and
4 - TG-x - 84.787 - 02 DEC 2014
Numerical targets carry a higher prop value, in contrast to nominal targets. However, numerical targets only impose shallow Fibonacci retracement, whereas nominal targets are high-prob reversal 9i.e.: minimum of 0.618+)
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: 4xForecaster
-----
Sorry for this late entry. Analysis originates from early December - Please, ignore TG-1 hit to keep it honest.
Here is what I posted as a retrospective commentary on the "Predictive Analysis?Forecasting" chatroom today - I hope this makes things right by you:
===============================
* * * 10 DEC 2014 * * * - H4:I thought I saved this chart as a preliminary study on December 02nd, 2014, when I built the chart. However, I cannot locate the chart in TradingView. Please, ignore the dates on the chart, as it may give the impression that I defined the targets after the fact. My apologies on that. Still, the analysis/forecasting is genuine and original.Analysis should have included a comment on NZD expected decline based on bearish dairy news and sovereign central bank action towards keeping or decreasing rates (very bearish for NZD) versus recent analysis on the and
ES revealing a probable reversal - It hit target since then and rolled quite drastically. The NET effect on should be a cantilevered force to the downside on the pair. David Alcindor================================
(Source: tradingview.com/chat/ )
In any case, the primary target was easily identifiable by its relation to Fibonacci's 1.414 and 1.618 extensions following completion of 5th wave.
Price has since reversed to the projection of a lower bullish trendline born out of Point-4 and the next higher low point.
For fundamental reasons stated above, the market is likely to maintain bearish pressure at these levels.
On technical grounds, I would look for the failure of 91.810 as an early indication of further softening of bullish ground, thus opening up to the following bearish targets:
1 - TG-1 = 90.796 - 02 DEC 2014 (done already, but likely to impose a R/S effect on price action)
2 - TG-2 = 80.517 - 02 DEC 2014
3 - TG-Lo - 87.662 - 02 DEC 2014
and
4 - TG-x - 84.787 - 02 DEC 2014
Numerical targets carry a higher prop value, in contrast to nominal targets. However, numerical targets only impose shallow Fibonacci retracement, whereas nominal targets are high-prob reversal 9i.e.: minimum of 0.618+)
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: 4xForecaster
-----
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.