DXY (Dollar Index) | The best point for correction♻️
Hello traders, Dollar Index in 4-Hour Timeframe This analysis is prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
In the daily analysis of the dollar index , I identified two possibilities (the beginning of wave 5 or still further ascent to form the structure of wave c from the wave of wave).
In this analysis, I considered the start of wave 5 from this point.
In this probability, wave 1 of wave 5 is being formed and I think the end of wave 1 of wave 5 will be completed at the bottom of the pink channel, which I marked as a dotted line, and then wave 2 will start (although the end of wave 1 of 1 should not be broken. And in case of breakage we must consider other structures).
If this decline ends at the bottom of the specified channel, the correction that is made for this move is better not to correct more than Fibonacci 0.618.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
In the daily analysis of the dollar index , I identified two possibilities (the beginning of wave 5 or still further ascent to form the structure of wave c from the wave of wave).
In this analysis, I considered the start of wave 5 from this point.
In this probability, wave 1 of wave 5 is being formed and I think the end of wave 1 of wave 5 will be completed at the bottom of the pink channel, which I marked as a dotted line, and then wave 2 will start (although the end of wave 1 of 1 should not be broken. And in case of breakage we must consider other structures).
If this decline ends at the bottom of the specified channel, the correction that is made for this move is better not to correct more than Fibonacci 0.618.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️