Hello Traders,
Here is a classic set up of the Geo'. We have a completion of the AB=CD pattern which typically indicates that the Geo' is complete. Since 5' (5 Prime) was not hit I expect a target of the 1-4 line.
The target here is based simply off of the rules of the Geo', where:
Completion at point 5 = 1-4 line
Completion at point 5' = Geo's Off-Set rule at point 4
Completion at point 5" = Geo's Off-Set Rule at point 3
Best,
Chartistry
Here is a classic set up of the Geo'. We have a completion of the AB=CD pattern which typically indicates that the Geo' is complete. Since 5' (5 Prime) was not hit I expect a target of the 1-4 line.
The target here is based simply off of the rules of the Geo', where:
Completion at point 5 = 1-4 line
Completion at point 5' = Geo's Off-Set rule at point 4
Completion at point 5" = Geo's Off-Set Rule at point 3
Best,
Chartistry
Note
5' Hit. Highest probability target is now point 4.Note
Geo's Off-Set Rule at point 4 and the 1-4 line shown in original chart remain in force.Note
Watch for the dashed arrow as a potential trajectory for price.
Also, look for TG-1 as the next highest probability target after Geo's Off-Set Rule is hit.
Best,
Chartistry
Note
UPDATE: Although this post was abandoned, all targets were hit and fascinatingly, the 1-4 target line was hit as well. This is a lesson that any time a Wolfe Wave is present, it should be observed and respected.Best,
Chartistry
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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.