Since 2011 March, DX has travelled in an impulsive manner till March 2015 & since March 2015—it has been travelling into consolidation mode & appears to be shaping out a whose C-leg is done.
So, any movement above 95.50- could show us the way that D-leg has started & shall travel atleast 98—98.50 where it shall complete 61.8% of the B-leg.
Now, If you flip this triangle –you will realise that we have similar pattern in GBPUSD (Cable) –both are shaping out triangles.
Hope so you got the connection & now more equipped to execute the trades in smarter way.
Abhishek H.Singh, CMT
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ