Multi-decade AB = CD pattern. Wow! Rare. This will happen boyz regardless of the small time manipulations by big money. I also added a regression channel. Everything falling into place. We will reach 112 if the market's secular cycles are allowed to complete.
Notice that DXY is sitting at the bottom of this channel. A bounce from here will weaken the market over the next 3-4 years till DXY reaches the top end of the channel.
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Brothers, I saw some excellent suggestions and questions in the comments. I am not wishing one way or the other. OK, I lied. I wish Dollar would drop that goes against the TA presented. But I am "secular" as far as market is concerned.
Let's think abou this for a moment. This harmonic has been in the making since 1986. This harmonic is secular and looks like it will finish as it started regardless of Big Money shenanigans. We are talking about representation of 75% of global GDP in this chart. Big Money is NOT big enough to change the outcome. Maybe they want this outcome. Who knows!
Good thing is that the predictions this TA makes will soon be tested with the regression channel lower line test. I also mentioned that perhaps the harmonic finished painting at 0.786 fib of BC. That is the problem with these things.
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this outlook presents further downside before pullup.
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We pivot at 91 or 90 depending on which fib is used by the harmonic. We are at 91 and set a new ATH. We could turn tonight or spend a few days to reach 90. Then the pullback to the top of the channel. i redrew the regression channel. Cause i can! the setup is valid till 90 at least.
This feels a lot like dotcom millenium bubble era, hyper nasdaq coming? DXY and other markets going up together? a lot of plot twists this year, too soon to tell
frodo75
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@axelrodd, All I say to my brothers who are "bearish" most of the time - it is hard to understand why the market is shooting up with the current state of economy. However, to survive till you enjoy making money on the bubble bursting, please bet with the market. If we all bet up, the bubble will burst.
axelrodd
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@frodo75, wow dollar broke the trend, back to 1996. Watch out for the year of the Chinese Bull, prepare to moon!
frodo75
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@axelrodd, A few bars going outside the channel line don't usually break up the regression channel. As a matter of fact, if I were to redrawn the channel it will slightly change its angle to account for the new bars. The channel by itself is not as important (the line need not be straight at all) as long as the price objective is met somehow. Unfortunately, we can't even put a time on this. Based on the channel trajectory, we have a tentative time but this change if the price pops out of the current channel.
axelrodd
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@frodo75, Listen to SocGen FX Strategist Juckes, a big bullrun is coming in 2021