U.S. Dollar IndexUpdated DJI trapped!
Trapped between these very important retracements. They act as price magnets, and significant support/resistance levels.
These were drawn with the magnet tool, so there is no bias towards their positions.
Do note that we are analyzing the DXY*DJI chart, which shows us a clearer picture of recent price action.
A closeup.
Are we in UTAD?
And another beauty...
Tread lightly, for this is hallowed ground.
-Father Grigori
These were drawn with the magnet tool, so there is no bias towards their positions.
Do note that we are analyzing the DXY*DJI chart, which shows us a clearer picture of recent price action.
A closeup.
Are we in UTAD?
And another beauty...
Tread lightly, for this is hallowed ground.
-Father Grigori
Note
The violation of this trend marks the end of QE. This shows the true effect. I hope you all understand it.With Green and Red arrows, I have marked the points I used to draw the rays.
These long-term rays, prove as significant resistance.
Hitting one of them, was a fundamental reason the Black Monday was so severe.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.