DXY-Dollar Nearing B completion (Short Entry Nearby)
Updated
A minimum for the wave B is in place, though this count still looks for two minor iv,v moves to complete the structure...either way the wave C of 2 comes into play as the midterms approach, and should see a good downside move towards the end of year in an impulsive structured wave C of 2.
In the larger degree picture, that wave 2 will be the last 2 of any real size for some time as the count looks for wave iii of iii of (iii) of 3 much higher into 2020+ with 130 as a basic minimum target. On the monthly DX charts, there's a gap starting at 92.22 which if not closed would constitute an interesting breakaway point or continuation if you prefer to call it that. It's not essential it remains open, but just one more point to consider as the wave 3 up takes hold and not to prematurely exit a major move.
In the larger degree picture, that wave 2 will be the last 2 of any real size for some time as the count looks for wave iii of iii of (iii) of 3 much higher into 2020+ with 130 as a basic minimum target. On the monthly DX charts, there's a gap starting at 92.22 which if not closed would constitute an interesting breakaway point or continuation if you prefer to call it that. It's not essential it remains open, but just one more point to consider as the wave 3 up takes hold and not to prematurely exit a major move.
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I don't have these longer charts on tv in general, though wanted to give some bigger perspective...here's a crude version of the larger count on the monthly. In general, we're in the 3's of 3's zone once this wave 2 completes and that means a lot of strength for a couple of years at least with 2019 the main kickoff of the upside.
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Simplifying the count from the extended wave i...will leave the wave iii with extension and we'll have to see later on whether wave v pink extends or not. The ideal completion is the end of year/new year though not essential to hit it exactly.Essentially the pattern is the same, just a simpler wave i pink.
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Sticking with the corrective B wave till the channel and 98 get broken to the upside...getting into the thick of things in Europe though, so even if we get this wave c of ii down to complete the Dollar, longer term is very strong.
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At the Channel again...the important test for the wave C of 2 count. A bounce in the wave iv but holding under 96.74 essential from an internal structural standpoint.Note
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the minimum for wave c of ii is in place with the new high over the wave a...equality is up around 97.17Note
First step in place breaking the little internal trendline for the c of ii, now needs to break the primary channel for some wave iii price action to gather speed lower. Still work to do with G20 ahead amongst all the other political games at play...regardless, structure points lower.Note
Ending Diagonal Extension of wave 1Note
Slight adjustment for this convoluted Ending Diagonal wave V of 1...as long as 96 holds, will look for this last wave v of V to complete.
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