$DAX Eyes 10052 | #GER30 $EUR $USD #ECB #Forex
Friends,
INTERMEDIATE GEOMETRY COMPLETES:
As we looked at different perspectives during the coiling geometry, which we proposed to belong to the Elliott Wave's Running Flat breed, we looked into the internal geometry of this Flat to determine a maximal level at which price would likely reverse and complete that time-consuming Flat pattern.
Turns out that simple geometric analysis held its ground, as price neared, but remains aloft the 9578 reversal level. At this point, price's bars suggests that momentum has gained further velocity, which helped it surpass Point-B of this Flat, thus completing this intermediate geometry.
PREDICTIVE/FORECASTING MODEL DEFINES FURTHER UPSIDE:
At this point, we are looking at further upside. The Predictive/Forecasting Model is now providing a firm target, elevating a potential reversal target to a slightly higher level than the prior Triple-Top, namely:
- TG-Hi = 10052 - 18 SEP 2014
Although this target is a Qual-Target (i.e.: associated with deep retracement greater than 0.618 or mere reversal where price would be pushed to turn around and carve new structures high/low), the presence of the Triple-Top may represent a confounding event for the Model. Nonetheless, the target value should remain intact.
OVERALL:
As price uncoils from a recent consumptive geometry, it is recovering into a dynamic reactive rally, surpassing the prior high of the coiled geometry and aims to carve out a new high per Predictive/Forecasting Model.
For those who have been following my analysis of
DAX, you will remember that a TG-Hi = 10037 was defined on 22 JAN 2014. At a current 10052, the new target should only be construed as a refinement of the same - Link to analysis from January 22nd, 2014: tradingview.com/v/GJ4EnNWM/ .
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
---------------------
Twitter: 4xForecaster
---------------------
INTERMEDIATE GEOMETRY COMPLETES:
As we looked at different perspectives during the coiling geometry, which we proposed to belong to the Elliott Wave's Running Flat breed, we looked into the internal geometry of this Flat to determine a maximal level at which price would likely reverse and complete that time-consuming Flat pattern.
Turns out that simple geometric analysis held its ground, as price neared, but remains aloft the 9578 reversal level. At this point, price's bars suggests that momentum has gained further velocity, which helped it surpass Point-B of this Flat, thus completing this intermediate geometry.
PREDICTIVE/FORECASTING MODEL DEFINES FURTHER UPSIDE:
At this point, we are looking at further upside. The Predictive/Forecasting Model is now providing a firm target, elevating a potential reversal target to a slightly higher level than the prior Triple-Top, namely:
- TG-Hi = 10052 - 18 SEP 2014
Although this target is a Qual-Target (i.e.: associated with deep retracement greater than 0.618 or mere reversal where price would be pushed to turn around and carve new structures high/low), the presence of the Triple-Top may represent a confounding event for the Model. Nonetheless, the target value should remain intact.
OVERALL:
As price uncoils from a recent consumptive geometry, it is recovering into a dynamic reactive rally, surpassing the prior high of the coiled geometry and aims to carve out a new high per Predictive/Forecasting Model.
For those who have been following my analysis of
DAX, you will remember that a TG-Hi = 10037 was defined on 22 JAN 2014. At a current 10052, the new target should only be construed as a refinement of the same - Link to analysis from January 22nd, 2014: tradingview.com/v/GJ4EnNWM/ .Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
---------------------
Twitter: 4xForecaster
---------------------
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