Wolfe Waves Lessons From 5-Prime | $USD $CAD #BOC #Loonie #Forex
Friends,
As you may recall, I presented the Wolfe Waves ("WW") pattern using different examples. In this particular case, we looked at a failed Point-5 reversal, which instead continued off to its Point-5'. In fact, yesterday, I was mentioning that as a matter of experience, whenever I come across a potential WW, I expect a reversal to occur at Point-5', as the market is more likely to absorb nearby stop-losses, right up to that loftier Point-5'.
Here are the recent technical commentaries on this USDCAD as it relates to this WW pattern:
1 - In this example, the interesting aspect is that my predictive analysis and forecasting system had already set a TG-1 = 1.11659 that was sitting HIGHER than Point-5, so the bias was already setting its eyes higher, towards point-5':
- tradingview.com/v/el0TAb2z/
2 - In this follow-through analysis, chart shows that TG-1 was surpassed in favor of a reversal at Point-5', as expected off of the dynamic 3-5' Line
For your leisure, review more WW pattern analysis here, where the AUDNZD offered yet another great lesson:
- tradingview.com/v/XAenL0Jh/
Also, here, folllow the
MSFT (Microsoft) price action as it consolidates at the Point-5':
- tradingview.com/v/szUcRlDn/
OVERALL:
Overall, this trader's directional bias is bearish, based on past WW lessons, whereas the predictive analysis remains bullish. Based on this discrepancy, net directional bias remains cautiously NEUTRAL.
Thank you for your support and friendly referrals!
Cheers,
David Alcindor
Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast: tradingview.com/v/52ONNlC8/
-------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
As you may recall, I presented the Wolfe Waves ("WW") pattern using different examples. In this particular case, we looked at a failed Point-5 reversal, which instead continued off to its Point-5'. In fact, yesterday, I was mentioning that as a matter of experience, whenever I come across a potential WW, I expect a reversal to occur at Point-5', as the market is more likely to absorb nearby stop-losses, right up to that loftier Point-5'.
Here are the recent technical commentaries on this USDCAD as it relates to this WW pattern:
1 - In this example, the interesting aspect is that my predictive analysis and forecasting system had already set a TG-1 = 1.11659 that was sitting HIGHER than Point-5, so the bias was already setting its eyes higher, towards point-5':
- tradingview.com/v/el0TAb2z/
2 - In this follow-through analysis, chart shows that TG-1 was surpassed in favor of a reversal at Point-5', as expected off of the dynamic 3-5' Line
For your leisure, review more WW pattern analysis here, where the AUDNZD offered yet another great lesson:
- tradingview.com/v/XAenL0Jh/
Also, here, folllow the
MSFT (Microsoft) price action as it consolidates at the Point-5':- tradingview.com/v/szUcRlDn/
OVERALL:
Overall, this trader's directional bias is bearish, based on past WW lessons, whereas the predictive analysis remains bullish. Based on this discrepancy, net directional bias remains cautiously NEUTRAL.
Thank you for your support and friendly referrals!
Cheers,
David Alcindor
Predictive Analysis and Forecasting
If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast: tradingview.com/v/52ONNlC8/
-------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis, classic technical analysis, basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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.