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pecpec
May 13, 2018 6:28 PM

LONG Dollar Index Long

INDEX:DXY1D
US DOLLAR CURRENCY INDEXINDEX

Description

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Pros
  • Elliot wave completed, expecting an ABC correction.
  • Pullback of 38.2/50.
  • Support zone
  • Longterm bullish.

Cons
  • Downtrend.
  • The last peak, may cause a divergence.

Strategy
  • Wait for a 38.2/50% correction of the last wave to enter the market.
  • I think the position can be closed when (A) was reached, but can manage moving the stop behind the last trough to reach (C).

Comment

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I hope the new bullish impulse make a RSI divergence to make a correction of 38.2/50 to buy.
Elliott WaveSupport and ResistanceFibonacciDXYfibonnacciFibonacci RetracementLONGlongterm
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