$USD is long and probably one can hold for few years if the dark green line doesn't breach. And sell when the historical red resistance line hits.
IT WILL BE PAINFUL TO TRADE GOLD/USD PAIR UNLESS YOU KNOW TOOLS TO DEPLOY OPTIONS. I am bear on this relationship and probably forming channel trade, but don't count on it too much. Also from cycle perspective Bull Market from 1999 TILL 2011 is OVER. So better to bet on the short side at least for next few years.
watch out for this channel formation of the usdollar, EU is on the top of a down channel too looks to reverse
USDOLLAR Long DXY Long on retracement. Finishing C wave. for new impulse up. #elliotwave #forex #dollarindex #foreignexchange #usdollar #dxy
From a technical perspective the USDJPY put in a bearish engulfing pattern on 7/21, which coincided with the channel trend line and major resistance area of 105.5-106.5. Now today we put in a 4 hour bearish pin bar retesting that same area. The retail crowd has also been adding to their longs recently, which now sits 59% long. Just more evidence that we're...
Elliot wave analysis of 2hr usdjpy chart. new impulse following correction.
Observe if USD is climbing up in this fork, coming weeks.... So far we maybe have a bullish divergence in momentum.... it's not a perfect divergence, but I think it looked OK in a 30min chart..... so we try it from here..... I give it a try, if it fail, ok then it's ok too..... I'm not trading it, just monitoring, because USD is an importent factor for other trades....
DXY finished wave 2 and started wave 3 targeting 98.5. I will update the chart when needed.
After a long-term divergence sent prices into a major correction, this correction seems to over. A bottom was formed in May, July saw another bounce off of the 11650 level. After this failure to continue lower, prices rallied heavily to the upside and we now saw a successful upside breakout during the past couple of weeks. The very last trading week supported the...
trend is in transitional phase so it's hard to tell whether it's a continuation or the exhaustion point of first impulse leg
Dollar looks to be headed higher out of this bull flag..
Bearish Flag is appearing on the charts, there are lot of euro data's in this week, we can sell the break below of the channel for 141 extension as initial targets...
SPX500 finished an impulse 5 waves and is about to retrace to 2112.
Bullish hikkake triggered last Friday. Look to enter long on Monday.
We have a bullish bat with D leg completion at 1.29070. Entry: 1.29080 Stop: 1.28640 Target 1: 1.29900 Target 2: 1.30460 If like advanced patterns and are thinking about incorporating them into your trading check out tradeempowered.com and Tom Hall 's page here on trading view. That is where I learned. Good trading, Luke