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UUP

IS THE DOLLAR ABOUT TO BOTTOM?You need to be paying close attention to the Dollar. We have some history written right on the chart if we'll just take a moment to interpret it. My interpretation might be different than yours but that's why we share our ideas.. and it would be a boring world if we all thought the same way. I don't watch the Dollar very often but I see very obvious price cycles on multiple levels going on here. There appears to be a potential larger cycle low that will begin pulling down on the Dollar over the next 7-8 years. However, the Dollar could be bottoming in the near term on a smaller cycle. I think it has the potential to rally back up to the upper trend (just like 1999-2002) before the long drop. Notice the symmetrical triangle and where the measured move is pointing to- I can't say if that target has been reached yet or if it's even valid but the measured move is near that upper trend. It'll be interesting to see if the Dollar can make that climb one more time (107-111?) before the likely descent. It'll also be interesting to see how precious metals respond if the Dollar does manage to rally again.. I would be thrilled to see another discount in the metals but there's a chance that the best discount is now.. There's no promise of lower prices in Gold & Silver again with what we're witnessing today.
TVC:DXY
by gghsusa
3
UUP Inverse H&S forming within channelUUP and DXY forming a descending channel +1.3% upswings, -1.7% downswings wide. Inverse head and shoulders appearing, a touch between 25.03 and 25.08 sets up for a breakout entry, escape price 25.18, last key resistance 25.25 Getting long between 25.03 and 25.12, targeting 25.19 then 25.25. A break of 25.25, worth adding size to jump into the gap between 25.40 and 25.50, mature long range target at 25.90. A drop @ 25 and it's worth waiting for support test at 24.90 before adding again.
AMEX:UUPLong
by UnknownUnicorn3390306
Inverted Head and Shoulder? Load up on USDThe dollar has been hit very hard lately with all this money printing from the Fed but some argument support the theory that it will soar one last time before the true descent. The stock market (SPY) is climbing its wall of worries. It will break new highs if not done already by the time you read this. But then when it corrects, bonds are going to soar and cash will be king for a short while. First Target $27 but could soar well above that. I am loading on UUP September 18th calls. They are are cheap and it offers sufficient time for the plan to work itself out! Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
AMEX:UUPLong
by adventurous51
All Time HIGH! Things you can do instead of shorting SPYThis craze could go on for a little while. who knows when the reality will catch up with the stock market, In the meantime, you can position yourself for a couple of potential explosive moves. - Long bonds, they are declining today, could be a good entry price soon? No need for an idea here, just look at the March TLT chart. - Long USD (see related story) - Long Gold before the big drop (see related story, to be followed by bullish trend. This one has worked out faster than I thought! I am up 33% on a position I took today) Disclaimer: The above is not an investment advice. It is merely an opinion and I share it for your entertainment only. Do your own due diligence and above all, trade safely and stay safe!
AMEX:SPY
by adventurous51