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Dxy_short

$AUDUSD Wolfe Wave, Point 4 In SightHello Traders, In this Wolfe Wave I want to highlight the internal moves between the points. Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on. ab=cd Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in length and time. It can also possess more complex internal wave patterns as the points are being created. Points 3-4: This path is similar to point 1-2 as it forms another, smaller, abcd pattern. If point 1-2, for example, is an impulse move, look for 3-4 to act in the same manner. Points 4-5: There are a number of moves that can develop between these points, another abcd, ZigZag pattern, or a swift move to the downside is possible. This move is really what I am interested in seeing in this chart! Finally, I want to hone in on the 1-4 trajectory line and how it can potentially help us figure out where point 4 is. Notice how I place the trajectory at an angle that acts as an anchor throughout the formation of this Wolfe Wave. I would also be interested to see how this plays a role in this formation. If you find this chart helpful please let me know by liking and following! :-} Thank you, -Chartistry
by GWaves
7
Dollar to weaken before it creates new highBelow we have a simple ABCD pattern forming - currently progressing B-C. The following are noteworthy; 1 - Weekly candlesticks are bearish moves, we can predict further bearish activity; 2 - MA's have crossed over bearish on both daily and weekly timeframes; 3 - A smaller ABCD pattern completes at leg C of overriding pattern; and 4 - point C (or D of smaller ABCD pattern) would work to fill out a gap in the market that still remains unfilled Point C should serve as a floor for DXY to climb to a new HH Let's see how this pans out! Would love any feedback ;) Happy trading folks - G5B_FX
INDEX:DXYShort
by G5B_FX