Hi Guys,
this market structure captures the bullish run (figure 1) made by US dollar since mid-April 2018 from A to B.
(This is not just Cozzamara saying so but Morgan Stanley, Credit Agricole and Goldman Sachs among a pool of other banks that back in November 2018 thought the greenback’s strength was waning).
And they were all right!
In fact US Dollar Index stopped at 97.67 where it met with a lot of resistance.
Here is the link to the article published by Bloomberg back in November 2018:
www.investing.com/ne...time-to-sell-1691082
However, in the following months (December, January and February), price moved horizontally below B supported by two higher lows forming a double bottom at approx 0.236 Fibonacci followed by another higher low formed today.
So, If A to B was a Bull Run and its correction is ended, can we expect the US dollar to extend above B?
Figure 1 - Bull Run - Monthly Chart
For a definition of Run please refer to this link: www.investopedia.com/terms/r/run.asp
Here is the link to the post I published on Nov 16, 2018. Click & Play to watch the move unfold.
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
this market structure captures the bullish run (figure 1) made by US dollar since mid-April 2018 from A to B.
(This is not just Cozzamara saying so but Morgan Stanley, Credit Agricole and Goldman Sachs among a pool of other banks that back in November 2018 thought the greenback’s strength was waning).
And they were all right!
In fact US Dollar Index stopped at 97.67 where it met with a lot of resistance.
Here is the link to the article published by Bloomberg back in November 2018:
www.investing.com/ne...time-to-sell-1691082
However, in the following months (December, January and February), price moved horizontally below B supported by two higher lows forming a double bottom at approx 0.236 Fibonacci followed by another higher low formed today.
So, If A to B was a Bull Run and its correction is ended, can we expect the US dollar to extend above B?
Figure 1 - Bull Run - Monthly Chart
For a definition of Run please refer to this link: www.investopedia.com/terms/r/run.asp
Here is the link to the post I published on Nov 16, 2018. Click & Play to watch the move unfold.
Thank you for your support and for sharing your ideas.
Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Comment:
I forgot to link this. To get a sense of it please Click & Play to watch the move unfold.
