Dxy_short
One Short Trade ahead of the next breakthrough gapPossible downside testing support level at 97.190, before breakthrough gap above high 100.510.
(4H) Bearish setup // Eventual C to D leg for an ABCD ® TVC:DXY
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Safe Trades;
long USD pairsOnce again we failed the break to lower channel, am expecting a bullish turn for all USD pairs.
- RSI starting heading up
- MACD starting to head up
- Failed to break the channel
$USDMXN US Dollar Mexican Peso Bearish Wolfe Wave: 60 MinHello Traders,
I spotted a Wolfe Wave already underway. We just retested the underbelly of the 2-4 line. This would be a good short at the current level. An exit at the 1-4 line would secure profits.
$USDCNH Bearish Wolfe Wave: 60 MinHello Traders,
Following the theme of this weeks chart. Here is another Wolfe Wave that is underway on the hourly time frame in the US Dollar Chinese Yuan Pair. Look for an exit at the 1-4 Line
$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
$DXY US Dollar Index Wolfe Wave and Geo's Off-Set RuleHere is a forecast of the Dollar Index based off of the Wolfe Wave and Geo's Off-Set Rule #3.
Geo's Off-Set Rule #1 = 1-4 Line
Geo's Off-Set Rule #2 = Point 4
Geo's Off-Set Rule #3 = Point 3
USDOLLAR INDEX H4 FORECAST NEXT WEEKUSDOLLAR INDEX H4 FORECAST NEXT WEEK: I think price will drop into 72Fib and then move up to 162Fib.
But i have doubts about the upmove to 162Fib since both COT-data and accumulation-levels signal bearish developments.
Another conflicting source is the seasonal chart of the USDX . This chart show clearly that USDX weakens in pre-election period.
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
61.8% reached , consolidation period, retracement...Let's keep it simple...
Reached the target mentioned days ago (link below), between the 50% and 61.8% fib from A to B, now, consolidation time (lower time frame), and retracement should be next.
Target, the 31.8% fib from B to C, synced with previous structure, around 95.75
Note: similar inverted movement expected in the pair eur/usd.
DXY After brushed the floor at 38.2%, target at 50% ExtensionI'm expecting DXY to move up to 50% Fib Extension, that will sync the structure with past lower lows from March / April, and then to complete a retracement from all this uptrend, moving down, between 50% and 61.8% fib retracement.
Similar movement (inverted), expected with Euro/Dollar pair.
Have nice trades.
