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.
Comments
Dopam
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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
TheSessionMaker
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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.
TheSessionMaker
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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.