DXY - Can Get To $108
Updated
DXY
This is now a very strong bounce and a bullish morning star candle pattern is printing on the month chart still with half the month to go.
I think this may be first major bounce from the market topping slump back in 2022...
From the crash low I see it as an AR "Automatic Rally" (short covering) into a 3 wave correction...
And now the real bounce which may end up being a higher time frame 3 wave correction that Elliott Wavers might call a WXY.
This is starting to look like it will be the obligatory minimum 0.618 @ $108.7 retracement as per crash structure ratios and it can of course explore into the Golden Window up to 0.786 @ $111.3 overshoot ratio and even a little beyond.
This is great for currency trades long dollar and as you know I posted a short GBPUSD trade (see linked idea) a while ago.
That trade should have some legs if dollar gets to the Golden Window, which I think it will if the month closes here or above.
Pull backs along the way of course.
Not advice
This is now a very strong bounce and a bullish morning star candle pattern is printing on the month chart still with half the month to go.
I think this may be first major bounce from the market topping slump back in 2022...
From the crash low I see it as an AR "Automatic Rally" (short covering) into a 3 wave correction...
And now the real bounce which may end up being a higher time frame 3 wave correction that Elliott Wavers might call a WXY.
This is starting to look like it will be the obligatory minimum 0.618 @ $108.7 retracement as per crash structure ratios and it can of course explore into the Golden Window up to 0.786 @ $111.3 overshoot ratio and even a little beyond.
This is great for currency trades long dollar and as you know I posted a short GBPUSD trade (see linked idea) a while ago.
That trade should have some legs if dollar gets to the Golden Window, which I think it will if the month closes here or above.
Pull backs along the way of course.
Not advice
Trade active
Not too far now
Trade closed: target reached
Dollar is very close to my target and printing a slightly higher high is showing signs of a Wyckoff distribution.
I'm taking profit.
Its been a great trade 👍🏻
We're into the Trump presidency bull phase🥳.
I have great trades and monitor many assets❕
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I have great trades and monitor many assets❕
Many Trade Ideas Every Day 📈
Regular videos ✨.
Telegram Group: $50 per month 👍🏻.
Contact: t.me/dRends35
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