Dollar index 4th or A wave near completion?

We are currently in a corrective phase which is either a 4th wave of the previous impulse down ( A wave) or it may be the start of a B wave. I suspect the former but it doesn't matter in the short term as both scenarios will initially look the same.

The next trade is likely to be short although we may get one more move up before it breaks out of the current (a wave).
Given the structure it may be worth taking a punt at a short trade before it breaks out as I suspect this is a b wave which will potentially reach the previous low.
Of course you will need a trade set up before entering.

I'll update my analysis as price develops so remember to follow to receive them.

Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon

Comment:

We had another push up last week so I've adjusted the trend line. Lets see if we get a short trade set up this week

Comment:

Looks like this correction 4th wave is going a little deeper. I don't think this is the start of a long trend but merely a final push up before putting in a 5th wave. Regardless of what it is if you are long tighten you stops because this latest move will correct itself soon