DX1! trade ideas
DOLAR INDEX POSSIBLE DOWNTREND1- BUY CLIMAX "BCLX":The buying pressure culminates, where purchases are being absorbed.
2- AUTOMATIC RALLY "AR":Where the buying pressure has been exhausted a surge of sales can make the price fall, this fall in price helps us define the trading range "TR".
3- SECONDARY TEST "ST":Price revisits the "BCLX" Area .The volume and the price distribution should be significantly reduced as the market approaches the resistance in the "BCLX" Area.
4- UPTHRUST "UT": It is a test to the resistance, this type of test it is usually accompanied by volume and tend to breaks the resistance, and after this,
the price returns to the trading range, this is an indication that the volume that appeared is sales and not buys.
5- After an upthrust we should see a move down and we will have a test to the "UT" (a valid test is usually accompanied by small candles and small volume and usually goes to 50% of the down movement).
6- SIGN OF WEAKNESS "SOW": Sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume.
7. LAST POINT OF SUPPLY "LPSY": This point appears after a "SOW". It is the last attempt of the price to raise, although it can do it twice. It's a good point to look for sales.
Happy New Year (2019)To the old and celebrated friends and mentors I have gained over my 5 years on this platform, I hope the New Year brings you joy and grace God willing.
U.S Dollar Daily Chart.A break out from this level will bring further malnutrition state to the Asia Stock Market.
A failure to break out but reversed all the way down or even breaking down the EMA200days support will bring cheers to the Asia Stock Market.
DOLLAR INDEX ANALYSISIn recent weeks the Dollar Index has moved within a rectangle. If we take the analysis on a "fundamental" level, it could be an inversion rectangle.
Yesterday, the Fed raised rates. In the early hours, the dollar strengthened. It was enough, however, a reading of the Economic Projections to understand that the dollar came out weakened by the meeting. Briefly, almost all data were revised downwards (compared to the previous September report). In particular, the GDP dropped from 3.1% to 3.0% for this year and from 2.5% to 2.3% in 2019. The rate hikes, forecast three times in 2019, fell to two (at the moment). So, fewer rate hikes and weakened economic conditions certainly don't help the dollar.
However, we have to take into account that, right now, it's not the best time to trade. In five days it's Christmas, and most of the big investors are currently out of the markets. So, everything becomes more complicated. In the medium-term, I'm convinced that we will see a drop in the dollar but in the short-term, anything can happen.
To all of you Merry Christmas and a New Year full of gains!!
DXY ENTERING BEAR CYCLEPlease excuse the inverse 0-DX1! chart...when this goes up it means dxy is going down.
DXThe dollar endex and cyrpto market moves in reverse. Dollar endex will soon be short. BITCOIN LONG
DX Significant Level PracticeDollar looks like it could be a nice trade next month. Quite clear on the monthly at the moment.
US Dollar Index FuturesUS Dollar Index Futures - Starting to look a bit toppy showing bearish daily divergence. Currently trading inside parallel channel.
USD Head and Shoulders SetupThe USD is creating a H&S for December. Next downside target S1 at 95.160, then possible rise back to pivot at 96.115
Huge potential upside for the U.S dollarThis is a compliment to my analysis for Gold.
As I said before , I will also post the monthly cycle analysis for both gold and the U.S dollar.
I see the dollar reaching quite easily the 116 level which is the 1.618 extension on the 2M monthly . Thats a super super bullish chart.
You can't make these things up . I mean you see primary bullish momentum on monthly weekly and daily .
I don't understand how can someone short this thing ? I really don't know. Unless you are trading for a few days or scalping .
I won't post the euro chart , but the euro/usd will soon go to par . Analysts were talking about par 1 year ago , as always timing is everything .
This moment has come in my opinion now.
7-8 weeks upside for the dollar maybe test the 96-97 level , downside for the gold and then starting next year , we have to wait and see what gold can do .
The past 7 years gold always rallies in the beginning of the year . It will be an interesting year.
However charts don't lie and gold is in big big trouble while dollar has huge upside potential.
US Dollar Index FuturesUS Dollar Index Futures: The recent price tick-up (since 30-Aug) appears very similar to the move from 27-Nov-2017 to 11-Dec-2017 - marked with blue arrows. Remember, specs are quite long the greenback. Expecting a weaker USD.
DX USD potential rise in strengthDX on support, if it rises above 95 on daily chart it could easily continue its journey up
General USD strength still preferred
Dollar Index approaching a possible topMy yearly composite cycles on the Dollar Index points to a possible high around the 28th August - early September. I would suspect that price may even reach the 0.618% Fib retracement around the 98.000 level before a possible decline. The cycle suggests that price may trade lower until early December.
If price does make it that high and technicals point to a possible reversal, it may be time to buy some puts! It would be interesting to see how everything plays out.
Regards
RigK
When Price Breaks Resistance of A Rising WedgeThere is time to follow the trend or patterns and indicators or a combination thereof. Each trade is specific to that and then there are those traders who do not use any of those things. Happy trading.
