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U.S. Dollar / Hong Kong Dollar

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USDHKD trade ideas

USDHKD - 2H - Pennant PatternUsally not at all a pair im looking at but i just random clicked on it and we are currently approaching a good oppurtunity so whatever. this spike we saw last week was the biggest spike since 2012. those kind of spikes often happen in lowpriced lowtraded stocks. they spike up multiple 100% for 1 day or 2 and then fall down to where they came from. if you look at the history of this pair you can see this happing all too often. so selling the selloff can be a good play. in this case the blue consolidation wouldve been a much better entry but i think the current red one provides still a good risk reward of about 1.5 average if you wanna go with conservative stops. and potentially 10:1 or something like that on a lower timeframe for an agressive stop. I never traded this pair, so im just goin to do it for fun and see how it goes.
Short
by SergeantPringles
Wolfe Wave v. Geo Potential At Predictive Model's 7.74892 $HKDFriends, A very quick synopsis on the $USD v. $HKD. There is a potential 5-point completion of a Wolfe Wave v. Geo completion as illustrated in the following chart: The Wolfe Wave exists irrespective of internal geometries that construct its outer geometric shell (See Mr. Bill Wolfe's www.WolfeWave.com site for an introduction to his pattern), whereas the Geo depends upon internal and external geometric requisites to justify its full completion (e.g.: Internal requirements, such as reciprocal symmetry of the 1-2 Leg, complex Elliott Wave ZZ in 2-3 Leg and simple Elliott Wave ZZ in 3-4 Leg, as well as external rules relying on extensions of 2-4 Line off of Points 1 (5') and Point-3 (5'') definition, and the omnipotent Off-Set Rule), all of which are in fact simple projection rules. In its simplest analysis, the Predictive/Forecasting Model is expecting a rallying from TG-Lo = 7.74892 - 24 AUG 2015 as the most immediate level of reversal. However, Fibonacci extensions in the order of 1.414 and 1.618 are worth heeding, especially as the 1.414 level is most often associated with aggressive level of reversal - In this chart, such level would maintain the overall WW vs. Geo contours intact, although further adverse excursion might validate the 5-prime (5') point and impose Geo's Off-Set Rule, as far as defining the highest probability target (here, the Rule would demand that price level of Point-4 be that target). OVERALL: WW vs. Geo is likely to complete. Point-5 validation would offer a long opp, whereas 1.414-FE should offer a probable long entry with BACA < 1.618-FE a prudent SL. Best, David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA ----- Twitter: @4xForecaster LinkedIn: David Alcindor ----- .
Long
by 4xForecaster
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