Target Hit Dead On; TG-Lo = 1.00892 Remains Pending | $AUD $CAD

Traders,

As forecast on TradingView.com and signaled on my Twitter feed (alias: 4xForecaster), following is the link to the predictive analysis and forecasting:

- tradingview.com/v/w1qwjPSf/

In that analysis, I reviewed basic Elliott Waves and Wolfe Waves patterns, and how their synergistic interplay build a basis to rationalize a bearish entry. The targets released at the time were:

1 - TG-1 = 1.01173;

and

2 - TG-Lo = 1.00892

The data suggested a SL at structure HIGH = 1.01919

The Reward-to-Risk Ratio ("RRR") was defined and remains as 12:1 - So far, 68.8 pips was the max incursion recorded as price hit TG-1. At this point, a relief rally is expected to occur, but further decline remains the favored directional bias.


OVERALL:

As indicated in the chart and prior analysis, the sequence sought is TG-1, followed by TG-Lo, and finally a reversal to TG-Hi. A continuation of a decline past TG-Lo should annul any rallying aspiration towards TG-Hi.

More on this trade development as it occurs. Feel free to follow my on TradingView.com (under 4xForecaster) as well as on Twitter (under 4xForecaster).

Cheers,


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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