$USD v $ZAR - Prop Pattern Eyes 14.50790 Reversal | #rand #forex
QUICK ANALYSIS:
A proprietary pattern I have discovered and named JANUS suggests a top at 14.50790 today. The Janus is one of several proprietary patterns I have discovered and use as adjuncts to my Predictive/Forecasting Model and geometries (Geo and Wolfe Wave). However, they are often used as third-place elements, as they carry a lesser probability weigh than the Model itself, or the geometries.
A recent $ZAR analysis was invalidated as price continued to soar (faded in the chart), whereas a nascent widening geometry is developing (highlighted in black lines) - I would pay particular attention to the third and often last validation of the upper line as a probable sign of imminent reversal. However, these can occur right on the line, above it, or some rarer times, not even making it to the line.
However, combining this expanding geometry with the pattern adds a slight gain in probability.
More on this DAILY chart as price continues to rally. Note also that this rallying is probably on the back of a strengthening $USD rather than a weakening South African Rand, as most of the $USD pairs are display a similar behavior relative to the dollar. However, and as mentioned this week-end, there is a high-probability of reversal in the USDollar Index, which is likely to correspond to the distance before reversal in other major and minor crosses.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
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Twitter: @4xForecaster
Linked-In: David Alcindor
TradingView: www.TradingView.com/u/4xforecaster
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A proprietary pattern I have discovered and named JANUS suggests a top at 14.50790 today. The Janus is one of several proprietary patterns I have discovered and use as adjuncts to my Predictive/Forecasting Model and geometries (Geo and Wolfe Wave). However, they are often used as third-place elements, as they carry a lesser probability weigh than the Model itself, or the geometries.
A recent $ZAR analysis was invalidated as price continued to soar (faded in the chart), whereas a nascent widening geometry is developing (highlighted in black lines) - I would pay particular attention to the third and often last validation of the upper line as a probable sign of imminent reversal. However, these can occur right on the line, above it, or some rarer times, not even making it to the line.
However, combining this expanding geometry with the pattern adds a slight gain in probability.
More on this DAILY chart as price continues to rally. Note also that this rallying is probably on the back of a strengthening $USD rather than a weakening South African Rand, as most of the $USD pairs are display a similar behavior relative to the dollar. However, and as mentioned this week-end, there is a high-probability of reversal in the USDollar Index, which is likely to correspond to the distance before reversal in other major and minor crosses.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter: @4xForecaster
Linked-In: David Alcindor
TradingView: www.TradingView.com/u/4xforecaster
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Komen:
11 NOV 2015 - Chart Update / Tech-Note:
Probable rally resumption into target from current structural support level:
David Alcindor
Probable rally resumption into target from current structural support level:
David Alcindor
Komen:
19 NOV 2015 - Chart Update / Tech-Note:
This 1-hour chart suggests a potential widening geometry with the opportunity to apply the ATHENA method ... Look for the parallels from opposite side to impose their resistance on the ascending price:
David Alcindor
This 1-hour chart suggests a potential widening geometry with the opportunity to apply the ATHENA method ... Look for the parallels from opposite side to impose their resistance on the ascending price:
David Alcindor
Komen:
19 NOV 2015 - Chart Update / Tech-Note:
Downside risk per 1.414-FE; JANUS remains a high-probability event:
David Alcindor
Downside risk per 1.414-FE; JANUS remains a high-probability event:
David Alcindor
This is the same chart, at its H4 level ... No change in the forecast:
David Alcindor