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$USD v $SEK - #elliottwave Points To Predictive Model's 8.9109Friends, $SEK is expected to weaken in this pair, where an Elliott Wave carved out an outline of its Contracting Triangle through a series of 3-3-3 internal formations with more (leading triangle) or less (simple zig-zag) complexities. This analysis replaces a recent one, as the Geo lost its geometric validation - However, the foreground Predictive/Forecasting Model remains in force with a resilient bullish target defined as: - TG-Hi = 8.9109 - 01 OCT 2015 ALTERNATE PATTERN - BARRIER TRIANGLE ... BUT NO MORE: Although price is currently perched at the top of a motive wave - which may or may not necessarily mark the debut of the expected ascent - an adverse excursion should be tolerable all the way down to the 8.03040 line - Crossing of the orange square would offer a fair advance warning. Indeed, attainment of this 8.03040 nadir would convert the Elliott Wave Contracting Triangle to a related Barrier Triangle, wherein its Intermediate points (B) and (D) would come to alignment. INVALIDATION OF ELLIOTT WAVE TRIANGLES: If and once price breaks below the aforementioned 8.03040 interdiction level, current analysis become null and void. However, the market geometrist would have to consider the possible nascence of a Wolfe Wave or Geo. OVERALL: An Elliott Wave Contracting Triangle has carved its geometric outline out of Intermediate waves (A), (B), (C) and (D), giving shape to its requisite convergence of A-C and B-D lines with zig-zag internals up to this point. A forecast outline of the expected Intermediate wave (E) is drawn, using slopes of preceding dominant waves, and levels that have been defined as relevant to the Predictive/Forecasting Model. Although Intermediate wave (E) is expected to pass beyond the A-C line, it is defined at the level corresponding to the Predictive/Forecasting Model which had valued the top at 8.91090 on 01 OCT 2015. However, this would not distort the Elliott Wave Contracting Triangle, but simply offer a common "overshoot", which is a distinct signature in this particular geometry. Best, David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA ----- Twitter: @4xForecaster LinkedIn: David Alcindor TradingView: www.TradingView.com ----- .
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