Also, once a five-wave impulse is completed a three-wave retracement follows. In the Dollar Index case, the corrective pattern seems to be unfolded as a w-x-y double and has fulfilled the requirement.
Confluence that the price is also sitting at a and approaching 78.6 Fib, a reversal is imminent.
While the 99.66 invalidation level remains intact, watch out for price action signal from the . The breach of the Flag channel or blue horizontal line will confirm the setup.
What's your view on Dollar?