TimStuyts
Short

Dollar index short

TVC:DXY   US DOLLAR CURRENCY INDEX
168 3 7
8 months ago
I'm looking for a bearish break in the dollar index             towards 90. I'll be looking for a consolidation in the beginning of the week for a possible bearish continuation towards 90.

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8 months ago
Trade active: We saw the break. I'll be looking to target 90 with stop at break even. I'll also be looking for consolidations on lower time frames to add another short position.

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8 months ago
Comment:
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glaazie PRO
8 months ago
Hi Tim i have been struggeling to label these combinations of corrective patterns my own i now have 4 corrective patterns
and i know that does not fit the guidelines of elliot wave right
or maybe it is allowed and is it a degree lower ?

the problem is i think the first abc to me it looks like a zigzag i see that you labeled it an A

how do you name the first correction ? a running flat ?

thanks for your time tim
Reply
TimStuyts glaazie
8 months ago
Key is that there are 3 kind of corrective patterns, Zig-Zag (5-3-5 waves), Flat (3-3-5) and Triangle (abcde). Then there are complex corrective combinations of these three pattern. As long as you don't break the few rules Elliott applies there are sometimes different counts valid in such combinations. However I adjusted mine slightly to show you how I count this corrective combination for now. And I mention for now because nothing is confirmed yet. Short term we should focus on impulse/consolidation and we saw another leg lower at the end of last week so now it is key to see whether this will be followed by a corrective move (for new selling opportunities) or whether it will reverse sharp indicating that a triangle pattern might be more likely.
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glaazie PRO
8 months ago
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