Is $EUR vs. $USD Rallying Back To 1.38865? #euro #forex $bund
At 1.04613, the nadir of last month also marked the exact level at which the LEFT completion of the geometry sent price to its 1-4 Line validation.
Upon a new month, price rose from that geometric validation, and appears to remains in suspension as of this writing (23 APR 2015).
Just as important, a new geometry has reached completion at its 5th plot, and since then has fallen further, just as to complete its prior geometric sibling, as just described above.
At this point, there are TWO possible options, which have to be reviewed in correlation with this new geometric completion:
1 - Ether price consolidates with a NET BEARISH move, such that price attains the 1.618-Fibonacci extension as shown in the chart, and in this adverse excursive process would validate an ectopic Point-5 as its 5-prime (5'),
OR
2 - Price rallies from the current level, and based on the "Off-Set Rule" attains a re-balancing of the past years gyration by validating the 1.38865-to-1.39927 range.
OVERALL:
As you ma recall, I have released hints of this pattern completion by posting the large geometry as a background to the recent lessons on "Advanced Market Geometries" (see it here:
). Considering the current "Fork in the road" situation, I thought it was worth releasing the chart with the extent of details as shown in the illustration and start a health and edifying discussion on what the direction might be.
As you may already suspect, I will side with the BULLISH outlook, but an interim decline to complete a 5-prime definition should be entertained at this point - Let's keep this large time-frame under the elbow for now, as we are currently dealing with the recent bullish geometry just reelased (see it here:
).
Best,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
Upon a new month, price rose from that geometric validation, and appears to remains in suspension as of this writing (23 APR 2015).
Just as important, a new geometry has reached completion at its 5th plot, and since then has fallen further, just as to complete its prior geometric sibling, as just described above.
At this point, there are TWO possible options, which have to be reviewed in correlation with this new geometric completion:
1 - Ether price consolidates with a NET BEARISH move, such that price attains the 1.618-Fibonacci extension as shown in the chart, and in this adverse excursive process would validate an ectopic Point-5 as its 5-prime (5'),
OR
2 - Price rallies from the current level, and based on the "Off-Set Rule" attains a re-balancing of the past years gyration by validating the 1.38865-to-1.39927 range.
OVERALL:
As you ma recall, I have released hints of this pattern completion by posting the large geometry as a background to the recent lessons on "Advanced Market Geometries" (see it here:
As you may already suspect, I will side with the BULLISH outlook, but an interim decline to complete a 5-prime definition should be entertained at this point - Let's keep this large time-frame under the elbow for now, as we are currently dealing with the recent bullish geometry just reelased (see it here:
Best,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
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כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.