$USD vs. $JPY - High-Prob. Wolfe Wave Eyes 1-4 Line Target
Friends,
Yesterday, we looked at the Geo methodology, defining a high-probability target by the use of its "Off-Set Rule" - see set up and target-hit here: tradingview.com/chart/USDJPY/2bd67Ve1). Today, we are considering the conventional Wolfe Wave pattern, eyeing a possible target along its 1-4 Line, as shown in the following chart:
Of geometric note here, it is interesting to see how the former Geo's 1-3 Line and and current Wolfe Wave's 1-3 Line are converging at Point-5 to potentiate the probability of reversal at the level defined (arrow).
OVERALL:
The Model remains bearish, while current geometry is supporting a bearish intermediate play. A break below 123.871 would support further downside and open up to bearish targets defined in the larger timeframe (see weekly chart released a few days ago, here:
.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
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Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
Yesterday, we looked at the Geo methodology, defining a high-probability target by the use of its "Off-Set Rule" - see set up and target-hit here: tradingview.com/chart/USDJPY/2bd67Ve1). Today, we are considering the conventional Wolfe Wave pattern, eyeing a possible target along its 1-4 Line, as shown in the following chart:
Of geometric note here, it is interesting to see how the former Geo's 1-3 Line and and current Wolfe Wave's 1-3 Line are converging at Point-5 to potentiate the probability of reversal at the level defined (arrow).
OVERALL:
The Model remains bearish, while current geometry is supporting a bearish intermediate play. A break below 123.871 would support further downside and open up to bearish targets defined in the larger timeframe (see weekly chart released a few days ago, here:
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
4xForecaster
LinkedIn:
David Alcindor
-----
.
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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.
Related publications
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.