High-Prob Decline To Wolfe 1-4 TP Line | $XAU $XAG $Gold #forex
PATTERN PROFILE:
Bill Wolfe's Wolfe Waves Pattern - Completed
Target = 1-4 Line ("Take-Profit" Line)
Trigger = 2-4 Line R/S action/reaction
SL = 1232.55
PREDICTIVE/FORECASTING MODEL:
- Future R/S Levels:
1177.42
and
1165.85
- High-Prob Reversal:
TG-1 = 1153.76 - 11 DEC 2014
INVALIDATION:
BACA > 1232.55
-------------------------
Note: Recent analysis suggested a rallying into the 1231.93-1226.34 range, which held per forecast. At this point, a background Wolve Waves completed (see pink plots: 1-2-3-4-5). The pattern's 2-4 Line acted as support until a recent breach and small rally, stomped at the line's underbelly.
Expectation here is a price compliance to background geometry, which demands further completion towads its 1-4 Line projection as dynamic support.
Static support is further defined by TG-1 = 1153.76 - 11 DEC 2014, a low-probability attainment, but high-probability reversal target.
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: 4xForecaster
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Bill Wolfe's Wolfe Waves Pattern - Completed
Target = 1-4 Line ("Take-Profit" Line)
Trigger = 2-4 Line R/S action/reaction
SL = 1232.55
PREDICTIVE/FORECASTING MODEL:
- Future R/S Levels:
1177.42
and
1165.85
- High-Prob Reversal:
TG-1 = 1153.76 - 11 DEC 2014
INVALIDATION:
BACA > 1232.55
-------------------------
Note: Recent analysis suggested a rallying into the 1231.93-1226.34 range, which held per forecast. At this point, a background Wolve Waves completed (see pink plots: 1-2-3-4-5). The pattern's 2-4 Line acted as support until a recent breach and small rally, stomped at the line's underbelly.
Expectation here is a price compliance to background geometry, which demands further completion towads its 1-4 Line projection as dynamic support.
Static support is further defined by TG-1 = 1153.76 - 11 DEC 2014, a low-probability attainment, but high-probability reversal target.
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----
Twitter: 4xForecaster
------
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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.