history repeats itself in the DXY chart many times
we can see how sideways consolidation patterns,
highlighted with yellow lines, appear one by one
the current red ABC sequence down might be over, as we can see a bullish divergence on the weekly chart. the price has established a lower trough while the RSI has set a higher bottom
this would complete the consolidation within yellow wave B, and the last yellow wave C could start soon
usually, wave C is equal to wave A; therefore, the measured target points at 121
it falls exactly in the area of the long-term peak of the previous large white wave W
this perfectly aligns with the wave targeting on the higher time frame
bearish invalidation only occurs below the bottom of blue wave X, under 89
what are your thoughts on such a massive dollar strength across the board?
we can see how sideways consolidation patterns,
highlighted with yellow lines, appear one by one
the current red ABC sequence down might be over, as we can see a bullish divergence on the weekly chart. the price has established a lower trough while the RSI has set a higher bottom
this would complete the consolidation within yellow wave B, and the last yellow wave C could start soon
usually, wave C is equal to wave A; therefore, the measured target points at 121
it falls exactly in the area of the long-term peak of the previous large white wave W
this perfectly aligns with the wave targeting on the higher time frame
bearish invalidation only occurs below the bottom of blue wave X, under 89
what are your thoughts on such a massive dollar strength across the board?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.