DXY in this enormous rally appears to be forming a shakeout reversal top here having gone slightly above previous highs but falling back sharply.
It has considerably overshot the 2.618 Fibonacci extension and I think that would be a likely area for a retracement before potentially continuing up this potential Cycle wave 5.
A sharp retracement here would likely be in tandem with a stock market bounce and FX pairs against the dolllar.
Not shorting.
Not advice.
It has considerably overshot the 2.618 Fibonacci extension and I think that would be a likely area for a retracement before potentially continuing up this potential Cycle wave 5.
A sharp retracement here would likely be in tandem with a stock market bounce and FX pairs against the dolllar.
Not shorting.
Not advice.
Comment:
If its not abundantly clear, this call is for a retracement top, not a long term top. DXY is in a wave 5 to go much higher.
Telegram Trading Group 🧐
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
Get the "heads up" at critical moments - don't lose your shirt.
$50 per month 👍🏻.
Contact: t.me/dRends35
