DXY: COMPLETION OF HARMONIC AB=CD MOVE (NOT A TRADE SETUP) !!!
Hello Traders,
Before we get into the details, I just want to point out that this is NOT a trade setup, it is just to use it as a reference when looking at USD related pairs. So after the sharp fall in the dollar, we have just completed a harmonic AB=CD move, right at the strong support zone (which previously acted as resistance). Looking to the left we see that the market has respected this zone quiet well. See the chart above for more details.
As we all know, NFP report and Unemployment Rate news events are coming out early morning @ 8:30 AM (EST). The market is expected to move quiet unexpectedly during these events, so be conservative and try to reduce your exposure to the market as much as possible.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Follow me on Twitter as well: moneymaking2016
Before we get into the details, I just want to point out that this is NOT a trade setup, it is just to use it as a reference when looking at USD related pairs. So after the sharp fall in the dollar, we have just completed a harmonic AB=CD move, right at the strong support zone (which previously acted as resistance). Looking to the left we see that the market has respected this zone quiet well. See the chart above for more details.
As we all know, NFP report and Unemployment Rate news events are coming out early morning @ 8:30 AM (EST). The market is expected to move quiet unexpectedly during these events, so be conservative and try to reduce your exposure to the market as much as possible.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
Follow me on Twitter as well: moneymaking2016
Comment:
Good Reaction from the support zone:
Seeing strong bounce from the support zone. Holding onto the EURUSD short positions.