AynCzubas
Long

USD Index Potential Bullish Triangle Thrust

INDEX:DXY   US DOLLAR CURRENCY INDEX
112 9 1
Potential bullish triangle. Void if index breaks below 96.17. The timing and ending levels of prospective "D" and "E" waves are hypothesized based on equal time cycles among peaks and among lows, and assuming .786 proportions for "D" of "B" and for "E" of "C" (following from the "C" wave's actual .786 proportion of "A"). Based on this, potential for minimum upward thrust to 101.50 level.

Update 4/28: The 96.17 level has been broken to the downside. If this will still develop as a triangle, I will now have to take the view that the ABC waves thus far have been the component waves of one larger "A" wave.
Wave "C" has moved slightly lower, decreasing leverage on the the post-triangle thrust estimate and implying the end of wave "E" will occur slightly above the lower trendline rather than below it. Keeping in mind, the expected wave "D" has not occurred yet and is necessary to establish to upper trendline to take an accurate thrust measurement, the origin of wave "A" and the top of wave "B" are for now just used as a general guideline for the upper trendline's angle.

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AynCzubas AynCzubas
The 96.17 level has been broken to the downside. If this will still develop as a triangle, I will now have to take the view that the ABC waves thus far have been the component waves of one larger "A" wave.
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Kriscoast its_new_wave
I like this. I have been long since 98.00 But Im adding here. 96.80. Long term bull. Let's see how this works out.
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AynCzubas Kriscoast
Hi Kris, if I were entering a long position at this moment I would put a stop loss at 96.16, as a break below the 96.17 low of wave "A" would negate the bullish triangle view.
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AynCzubas AynCzubas
The tendency after a break below that level would be 1) for "C" to equal "A", and then 2) for the whole correction to reach down into at least the area of the previous 4th wave around 94-95 area.
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Hi. It is a good comparable with EUR/USD. The time cycle for USDX, seems, will the end near the 15th on May.
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AynCzubas its_new_wave
Yeah, it could, if time cycle works out that way.
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AynCzubas its_new_wave
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