$GBP v $CAD - Wolfe Wave Completes; Model Eyes 2.08057 #BOE #BOC

Friends,

Feel free to peek at some of the pre-analytical work I engage in a daily basis, involving currencies, commodities, stocks and indices. The current comes from the " | Predictive Analysis & Forecasting" room (reference below), suggesting a continuation to the upside, with a Wolfe Wave pattern calling price along its dynamic 1-4 Line, whereas the Predictive/Forecasting Model defined a static target at 2.08057 on 07 OCT 2015:

The following is a cut/past commentary offered in preparation to this publishing. Those familiar with the Wolfe Wave/Geo may have taken an early position (green square). However, this and an other analysis I post, share or offer comments are for educational purposes only:

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07 OCT 2015 - GBPCAD - Daily chart:

Here is another GBP cross, highlighting a potential decline to the support shown in the chart.

Note that the levels used for that support also approximate a significant 1.414-Fibonacci extension, with a range of 1.96332 to 1.95551 depth.

To the upside, I am expecting a reaction capped at a narrow 2.05219 to 2.05599 range.

The background geometry is the Geo with the application of the Geo's Off-Set Rule #2 as a rationale for the upper range target.

David Alcindor

19 OCT 2015 - Re: GBPCAD:

Price peeled off of the 1-3 Line and consolidation pattern near Point-5; Now nears 2-4 Line following forecast:

David Alcindor

19 OCT 2015 - GBPCAD break across 2-4 Line; 2.0857 forecast remains intact:

David Alcindor

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Best,

David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA

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註釋

21 OCT 2015 - Price Update / Tech-Note:

It appears that price has resume an upward swing - Following is a speculative overlay of a primary-degree Elliott Wave count to emphasize the probable impulsive mechanism of ascent, as well as highlight significant R/S levels:

David Alcindor

註釋

ADDENDUM - I have added in the chart the outer-most tolerable target per Predictive/Forecasting Model, defined at 2.08400:

David Alcindor

註釋

22 OCT 2015 - Chart Update / Tech-Note:

Here is the state of affairs as of this day:

Note that price is retracing from the forecast R/S level:

Looking at a probable support, I would consider the 3 following technical events:

1 - The termination point of a 2th wave at 2-lesser degree:

2 - A Fibonacci retracement to 38.6 level, corresponding to the termination level of the first speculated motive wave (in grey), near 2.0085:

3 - Seeking support along a minor R/S level:

Although all of these are circumstantial and should not be construed as a deterministic rule, they do come together supportively, but can only add to the probability strength of that expected event.

Best,

David Alcindor

註釋

23 OCT 2015 - Chart Update / Tech-Note:

Price converted 2-4 Line from resistance to support per this upper-side validation ... Bullish:

David Alcindor

註釋

07 NOV 2015 - Chart Update / Tech-Note:

Price remains above the 2-4 Line. Watch for potential R/S validation atop this geometric line:

David Alcindor

註釋

12 NOV 2015 - Chart Update / Tech-Note:

It took a 61.8% contraction to recommence a rally. Expect a temporizing delay at the 2.033 level as price retests this interim obstacle.

Predictive/Forecasting Model remains intent on its outer-most Qual-Target at 2.08057, defined on October 07, 2015:

David Alcindor

註釋

16 NOV 2015 - Chart Update / Tech-Note:

Price reached, now retracing from the expected 2.033 level ... Overall forecast remains bullish and intent on loftier levels, as defined in forecast: