DXY 13 SEPT: Elliott waves | Gann | Planetary Aspects
The DXY has found support on the 20 week MA (in red), but one more move down may be ahead of us if DXY gets rejected at the 50-60% retracement level (blue box). The Gann level at 92.950 can provide orientation for an end of the current move.
Bearish: Wave C needs to be completed. Gann level at 91.510 may provide support. Afterwards we may look for a volatile move to the upside (wave 3) towards end of September, which may cause a heavy correction in stocks.
Bullish: Looking for Wave 3 down with a rather sharp and more volatile personality compared to a Wave C. This move may provide further upside in the stock market due to inverse correlation.
STO = Sell to open idea
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
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Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Bearish: Wave C needs to be completed. Gann level at 91.510 may provide support. Afterwards we may look for a volatile move to the upside (wave 3) towards end of September, which may cause a heavy correction in stocks.
Bullish: Looking for Wave 3 down with a rather sharp and more volatile personality compared to a Wave C. This move may provide further upside in the stock market due to inverse correlation.
STO = Sell to open idea
______________
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand (momentum), and to use options premium decay for consistent income when markets may contract (range).
Get a 14 Days Free Trial: www.constellations.trade
Open an account here if you'd like to support my work:
Deribit - Trade Bitcoin option premium decay strategies here:
www.deribit.com/reg-14912.6680
Binance - 10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.