UnknownUnicorn908250
Short

DXY head and shoulders

TVC:DXY   U.S. Dollar Currency Index
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1
Will the head and shoulders play out?
Comment: I see the bullish divergence but I think the bearish divergences of the recent high will play out further. The target is a the 1.618 and the apex of the previous symmetric triangle.

Comments

A head and shoulder patterns is the most trustworthy pattern when the neckline is the most horisontal and the shoulders are as symmetrical as possible, so not sure this pattern will play out for you, but time will tell. I would try looking in the direction of harmonic patterns. The 3 drive to a bottom pattern instead. Best to your trading.
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UnknownUnicorn908250 CoinedByCrypto
@CoinedByCrypto, Thanks, I'll look into harmonics. I don't regard this as a trustworthy pattern, and I wont be trading it. I was just looking at the major indices on the longer time frame. I wouldn't be surprised if this turned bullish. Do you have a chart to share with some analysis?
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