TVC:DXY US Dollar Currency Index
DXY has confirmed a , and a neckline break. However, it's hesitant to fall just yet. We can see starting from the right top, prices started a 5 wave pattern, and is now in the correction phase. We're looking for B here, which might be right at the same higher low we previously posted at 93.41. This would create a , and send price up to the measured move at C. That is also the from the top of the to the neckline. From there, we should see a move down into 86.64 to complete the .
Comment: If a pin bar is posted here at the arrow, then that should be the signal to go long with stops below the low. This is a "low, lower low, higher high, lower high" reversal setup.
Comment: This looks like a decent pin bar trigger.
Comment: Price respected the level and started the rally up.
Trade active: Price hit the C target
Comment: Idea worked out pretty nicely. Retest of 95 to get in short again.
Comment: Top trendline adjusted. this is where we go down for the DXY