At the time of my last post I did not have a good "feel" of the direction of DXY. Now I am favoring more down action ahead. At c the price did hit the target box I had set intra-day x2 (at (b) then immediately reversed. It looks like it is setting up a asymmetric head and shoulders pattern the the "H" a M type top. If level (a) is taken out I think there will likely be a move to about 85-86 where (c) equals 1.62 x (a) and also it would be the potential H&S target.
Personal note: Tim West has encouraged me to be more specific on my stops. Personal I will be taking a 1/2 position now. Then add the other half if price short term goes up to the top of the dotted down trend line with my stop just above "b". The other possibility is that price quickly goes down < the recent low of .1 at which point I will add the other half using the dotted down trend line as my stop (ie any close above the line). This is in no way an encouragement for anyone else to do this. Everyone must decide on there own how they see things and handle their risks. Best to ya.
Personal note: Tim West has encouraged me to be more specific on my stops. Personal I will be taking a 1/2 position now. Then add the other half if price short term goes up to the top of the dotted down trend line with my stop just above "b". The other possibility is that price quickly goes down < the recent low of .1 at which point I will add the other half using the dotted down trend line as my stop (ie any close above the line). This is in no way an encouragement for anyone else to do this. Everyone must decide on there own how they see things and handle their risks. Best to ya.
