AlpacaCrypto

DXY forms 3rd "W" looking to breakout

Long
TVC:DXY   U.S. Dollar Index
The US Dollar Index has formed a third, smaller "W" on the charts, following 2 larger "W"s, the second of which isn't quite complete yet, but looks like it will be fully formed after a breakout above the neckline of the smallest "W" that just formed. This would also bring price to the neckline of the larger "W" on the macro, and also completes the appearance of a smaller "Cup & Handle" inside a larger "Cup & Handle" on larger time-frames. This coiling and upward curling action with higher lows while approaching and challenging the neckline suggests a breakout in price very soon.

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