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benchch
Aug 15, 2016 4:31 PM

DXY forecasting with Elliott wave / Hennessy wave 

U.S. Dollar Currency IndexTVC

Description

I've been taking the time to see what this new elliott wave rule could do to help counts. There are some pros and cons. I have had more success counting with it than the regular way to count. Because it's not well known it's made me apprehensive to post ideas on here. But I have to put something out there now because it is working.

Longer Term I have DXY aiming to go higher. Right now we are in an ABC correction and have finished the B portion.

I've labelled short term that we've finished wave 1 and 2 of the C wave. For Hennessy counting in a C wave the wave can go wild and have many false breaks. So I predict it throwing people off for the next couple of months. After that I can see more highs. But i'll update as it unfolds.
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