Catat4f1sh

DXY: The bearish correction before the bullish relief

Short
Catat4f1sh Updated   
COINBASE:ETHUSD   Ethereum
Elliott Wave analysis on DXY resulted in following targets:

+ 16/12/2020 23:00: reached TP3 1.768fib retrace (90.128)
+ 06/01/2021 03:00 Ranged a bit lower to 1.8943fib (89.209)
+ Only higher lows & higher highs since 06/01 !
-> EW TP4 1fib retrace (95.716) on track
-> EW TP5 2.272fib retrace (86.461) on track

BTC target calculation (avg past 3 BTC prices when DXY hit 95.716 weighted higher for more recent hits):
P1 = Price last time DXY hit TP4 (95.716) = 9394.14
P2 = Price 2th to last time DXY hit TP4 (95.716) = 7894.68
P3 = Price 3th to last time DXY hit TP4 (95.716) = 3435.07

BTC TP4 (DXY) eq. target = ((P1*3)+(P2*2)+P3)/6 = 7901.14
Closest golden fib = 8590.65

ETH target calculation (avg past 3 ETH prices when DXY hit 95.716 weighted higher for more recent hits):
P1 = Price last time DXY hit TP4 (95.716) = 235.77
P2 = Price 2th to last time DXY hit TP4 (95.716) = 202.98
P3 = Price 3th to last time DXY hit TP4 (95.716) = 108.58

ETH TP4 (DXY) eq. target = ((P1*3)+(P2*2)+P3)/6 = 203.64
Closest golden fib (my TP) = 218.68

Active ETH Trade:
Entry: 1298.98
TP: 218.68
Stop loss: 1443.00
R:R: 7.5
Trade active:
Trade went deep into profits but dump got halted @ 1044
I scaled out of it (took good profits) & decided to DCA into a higher entry to give it another try
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