Long Prospect In Brit | $GBP $USD #BOE #fibonacci #forex

TRADE PROFILE:

Long prospect given two structural "lines in the sand"

- 1.53511, marking a probable bullish momentum

or

- 1.52005, marking a probable retracement into bullish entrenchment range (1.50360/1.49959)


PREDICTIVE/FORECASTING MODEL:

Model defined the following bullish target:

- TG = 1.64116 - 09 FEB 2015


FIBONACCI ANALYSIS:

Model's target comes out to be slightly higher than the standard 0.618 retracement of the multi-month bearish swing which appears to have completed recently.


PATTERN ANALYSIS:

A look at the DAILY chart would reveal a Scott Carney's Bullish Shark completion, with a potential reversal towards a 5-0 pattern, which would represent the expected rallying from current lows.


OVERALL:

Note that at this point, I am adopting a premature bullish stance relative to the recent predictive/forecasting analysis that called for slightly lower targets.

In the prior analysis, a numerical target (high probability hit, low-probability reversal was hit at 1.50074, whereas two nominal targets (low probability hit, high-probability reversal) at TG-Lo = 1.4942 and TG-Lox = 1.489 on 22 JAN 2015 have remained unanswered - See prior analysis in reference here: tradingview.com/v/tLfdtqwL/, as well as former analyses here, as follows:
- tradingview.com/v/t05Yr2Up/
- tradingview.com/v/qHdVCUGm/


However, significant structural advanced have taken place to cause my abandoning these last targets and turn my sight to loftier, newer targets, as defined above.

Stay tuned,


David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA


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