When focusing on the dollar index we see a clear consolidation which might be over at the moment OR in need of at least 4 more waves. Since we see a consolidation I'm looking for certain clues that tell me whether the trend might continue or not.
I count 15 leading waves, 15 is an extension of 3
if you count the waves of lesser degree you find 35 waves, 35 is also an extension of 3.
We see many overlaps so I'm looking for only a bullish break on this time frame.
However, if we move lower we need 19 waves and therefore we can wait for wave 17 to complete, let 18 consolidate and sell 19.
Updates will follow by means of updates of this post. (keep in mind that the arrows are indicative)
For my previous post and context see link below:
I count 15 leading waves, 15 is an extension of 3
if you count the waves of lesser degree you find 35 waves, 35 is also an extension of 3.
We see many overlaps so I'm looking for only a bullish break on this time frame.
However, if we move lower we need 19 waves and therefore we can wait for wave 17 to complete, let 18 consolidate and sell 19.
Updates will follow by means of updates of this post. (keep in mind that the arrows are indicative)
For my previous post and context see link below:
Comment:
If it reverses sharp I let it go and wait for next consolidation.
