$USD v $NOK - Geo Eyes Imminent Bullish, Then Bearish TargetsQUICK ANALYSIS:
Here is another educational trade involving a combination of the Predictive/Forecasting Model and the Geo. As you recall, the "Model" is very good at establishing targets, but poor at timing. Combining the "Model" with the Geo offers a high-probability visual pathway towards these targets.
In this particular case we have two sequential targets, both being qualitative targets (i.e.: TG-Hi and TG-Lo, imposing a deeper reversal impact on price compared to quantitative targets - TG-1, TG-2, ... etc. - which have a tendency to impose a shallower Fibonacci retracements in the order of 0.386 to 0.618).
As you may also recall, the WEEKLY chart recently hit a significant Qual-Target:
So, the interest at this time is to decipher the mechanism of descent which is likely to bring price down to about 6.6000, as illustrated in the weekly chart above.
For this, we can focus on a daily chart and appreciate the following geometry:
Looking a bit further, we can also focus at the 4-hour level and look into the morphology of that geometry - What we are looking for is a Geo, with its high-probability price control, as a rationale for that descent to lower lows:
Now that we have defined the contours of the Geo, following is a schematic projection of a probable price pathway, given the Predictive/Forecasting Model's predefined targets, as shown:
Following also illustrate a prudent, conservative entry when dealing with this sort of geometry, where the orange square defines that level that would trigger a short, but not until price Breaks Across, Closes Across ("BACA"):
Once a BACA < 1-3 Line occurs, then there is nothing else to do, but let the Predictive/Forecasting Model receive validation:
OVERALL:
Above illustration serves as an educational demonstration of how to deal with the Geo, the Wolfe Wave and any other contracting geometries. However, with the combination of the Predictive/Forecasting Model, there is a higher degree of probability that can be reached, and this is how most of the trade I share with the TradingView community are defined.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter: @4xForecaster
Linked-In: David Alcindor
TradingView: www.TradingView.com
-----
.
