Today I want to look at the DXY which in my view could be getting close to a turning point, Dollar index can give us the potential direction in the mayors for eg. EU H1 has 5 down giving bullish divergence so I will be looking for TL break and bullish flag to confirm the TL break and more upside to come (buy break out of bull flag)
DXY H4 I'm looking at the potential C wave down (next impulse) with a expanding flat in B. Wave C in the expanding flat end has not been confirmed, to be confirmed you need to go down to H1, wait for TL break and bearish flag before selling. Don't just jump into the sell, wait for confirmation!
A break above Wave A (H4 top) will negate this potential setup!
Be aware, NFP coming out on Friday so take care
DXY H4 I'm looking at the potential C wave down (next impulse) with a expanding flat in B. Wave C in the expanding flat end has not been confirmed, to be confirmed you need to go down to H1, wait for TL break and bearish flag before selling. Don't just jump into the sell, wait for confirmation!
A break above Wave A (H4 top) will negate this potential setup!
Be aware, NFP coming out on Friday so take care
Comment:
We got nice impulse down and starting to get bear flag on M15
Comment:
You should be well and truly be at BE on this setup
