MichaelGentilella
Long

USDollar -DXY Chart reveals a post election market correct/crash

TVC:DXY   The U.S. Dollar Index
10 0 0
I titled my publishing as such because it looks as if the US Dollar             may resume it's bullish trend (my guess is after December elections). Keep in mind this is a weekly chart, thus every candlestick open and close represents an entire trading week. I'm no Elliott Wave Theory professional and drew the waves as a loose indicator of where we are, I'm a fan of Fibonacci retracements and Bollinger Bands as well. To me it looks like we've had a pretty clear bullish run in the dollar from July 2013 until a peak in early 2015 at which point we entered a complex correction and in my opinion it can be broken down to an a, b, c, d, e at the highest level. As you can see, my 'e' leg has channeled down and recently retested the .382 fib level and is now hitting channel resistance. I'm confident this is and will continue to lead to false bullish signals right before the election as the dollar will become bearish over the coming weeks as my black drawn line indicates. Once support converges at the .382 for a final test the dollar should break out bullishly and the markets should have a precipitous correction across the board.
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