INDEX:DXY   U.S. Dollar Index
277 3 0
This is showing a long and short projection for DXY             . Nothing confirmed, but the setup is certainly there. H&S is likely forming, which is in line with the TLT             chart I published earlier.

Long into right shoulder formation and short upon completion of right shoulder. If DXY             makes it above 83, setup is void.
Expecting further weakness in equities which should result in the dollar riding the blue trend line higher into the 81.80 - 82 area. This coincides nicely with potential post election selloff. Re-evaluate as it unfolds, but so far on track.
4 years ago
Ascending neckline suggest right shoulder goes much higher than left shoulder. If the pattern is a H&S we should get a big pop very soon. Like the trend lines
MainStInvesting PRO Dopam
4 years ago
That is true. I would say $83 would be a good high side target. One thing I tend to do when forecasting patterns is be a bit conservative initially, then see where we are as we approach the target time-frames and prices. Doing so fits within my style of risk management.
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