ResonanceTrading
Short

Dollar Index short trade

INDEX:DXY   U.S. Dollar Index
First of all I wash you all a happy prosperous new year.

We still believe that wave 4 correction is still underway and we will see the continuation of it during this week. Another scenario is that wave 4 is a running flat in which wave b goes a little bit higher than wave 3 before going down but we don't see this scenario in other USD crosses.

If you are looking for a safer trade, you could wait until we see an impulsive move down that represents the last leg down of wave 4 and then initiate trades.

After all, each one of us has their own risk aversion.

Happy trading :)
Olu
11 months ago
Hi. Thanks for your idea. I have been following a similar idea for a little while. I am also thinking that 4 might be forming as a triangle. Our count is similar and price must not touch 1 or the whole count is invalidated. I am not thinking expanded flat but in these markets anything can happen even a wxy. We just need to be more aware. I am thinking 105 after all is said and done
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ResonanceTrading Olu
11 months ago
snapshot

Here is an Image of our second most probable scenario, but it is not to scale yet. depending on the next 10 days we would be more able to develop a clearer picture.
Thank you :)
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