DXY (Dollar Index) | Great area to start the downtrend🔥
Hello traders, Dollar Index in 4-Hour Timeframe This analysis is prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
Wave c is currently forming, and Waves 1, 2, 3, and possibly 4 have completed themselves, and we are inside Wave 5.
Our goal in channeling is to put the trend in a framework and calculate the trend slope.
The current trend is forming wave 5 in wave c and currently forming a 5 wave for wave c, it can not be said that this microwave is one of the waves of wave 5 or wave 5 itself.
Right now I expect the index to move up to the red triangle.
1- If the price moves directly from the same area to the ceiling of the triangle, this analysis is correct.
2- If the price is neutralized first and then moves upwards, in this case the previous 1 hour analysis wave counts are approved.
If on the way back from the ceiling of the triangle, the frame of the channel and the two floors of the black channel are broken, all this wave is wave 5 and the long-term descent will be confirmed, otherwise we expect more ascent.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
Wave c is currently forming, and Waves 1, 2, 3, and possibly 4 have completed themselves, and we are inside Wave 5.
Our goal in channeling is to put the trend in a framework and calculate the trend slope.
The current trend is forming wave 5 in wave c and currently forming a 5 wave for wave c, it can not be said that this microwave is one of the waves of wave 5 or wave 5 itself.
Right now I expect the index to move up to the red triangle.
1- If the price moves directly from the same area to the ceiling of the triangle, this analysis is correct.
2- If the price is neutralized first and then moves upwards, in this case the previous 1 hour analysis wave counts are approved.
If on the way back from the ceiling of the triangle, the frame of the channel and the two floors of the black channel are broken, all this wave is wave 5 and the long-term descent will be confirmed, otherwise we expect more ascent.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️