zhipengcfel
Long

Trading opportunity for DXY (2016-07-03)

TVC:DXY   US Dollar Currency Index
DXY             broke out of the bearish channel at Brexit. From elliott wave analysis, the large correction which lasts for more than one year might have finished.
US dollar is undergoing wave 4 correction
Now it is retesting the channel support. It is a good opportunity to buy it when coming to 94.8~95.3 supply zone with SL at 94.5
TP1: 96.7
TP2: 98.3
TP3: 100.2

If it breaks 96.7, it will confirm a double bottom pattern. If you are a conservative trader, buy when it breaks out of 96.7.

Good luck for everyone!
Trade active: Nice break up!
snapshot
Comment: Nice progress. I am waiting for the break out of 96.7.
Comment: Nice! Resistance at 96.7 was broken up.
Comment: TP2 was hit!
I agree with your idea. May be a bit more down if it forms a channel.
DXY still bullish
+1 Reply
Nice! That is the reason why I will wait until it comes to 94.8~95.3 supply zone.
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