Friends,
This past June 04th, I released three forecast targets, namely:
1 - TG-1 = 115.52 - 04 JUN 14
2 - TG-2 = 117.83 - 04 JUN 14
and
3 - TG-Hi = 119.72 - 04 JUN 2014.
(See recent analysis that generated these targets here: tradingview.com/v/u9vjhOvL/)
As of today's close (Monday, 09 JUN 2014), the first target got steam-rolled then used as a springboard (pink arrow) for further advancement in price action.
TECHNICAL OUTLOOK:
Outlook remains intact as price action is now eyeing the second forecast target @ 117.83. As indicated before, the extreme forecast (TG-Hi or TG-Lo) typically refer to lesser probabilities, which if reached, tend to act as significant counter-trend or reversal price points.
The escape velocity that propelled price towards the first target should remain in force, indicative of a Wave-3 anatomy in Elliott Waves parlance. If indeed TG-Hi imposes a significant resistance, then the EW pattern trader might potentially see a A-B-C retracement pattern back towards the GREEN dashed bullish trendline, which price used as its launchpad.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
---------------------
Twitter: 4xForecaster
---------------------
This past June 04th, I released three forecast targets, namely:
1 - TG-1 = 115.52 - 04 JUN 14
2 - TG-2 = 117.83 - 04 JUN 14
and
3 - TG-Hi = 119.72 - 04 JUN 2014.
(See recent analysis that generated these targets here: tradingview.com/v/u9vjhOvL/)
As of today's close (Monday, 09 JUN 2014), the first target got steam-rolled then used as a springboard (pink arrow) for further advancement in price action.
TECHNICAL OUTLOOK:
Outlook remains intact as price action is now eyeing the second forecast target @ 117.83. As indicated before, the extreme forecast (TG-Hi or TG-Lo) typically refer to lesser probabilities, which if reached, tend to act as significant counter-trend or reversal price points.
The escape velocity that propelled price towards the first target should remain in force, indicative of a Wave-3 anatomy in Elliott Waves parlance. If indeed TG-Hi imposes a significant resistance, then the EW pattern trader might potentially see a A-B-C retracement pattern back towards the GREEN dashed bullish trendline, which price used as its launchpad.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
---------------------
Twitter: 4xForecaster
---------------------
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.