Short to Year pivot

Measured Move target shown below. 95.80 $DXY target. At long last. $TLT $GBPUSD

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Triangle measured moves: thepatternsite.com/st.html

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Watch for any potential backtests of the triangle bottom rail in the coming days. It looks like we already had a small one today. NFP and Unemployment rate tomorrow.

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If we backtest the bottom rail of the triangle, short with your house.

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Looks like we will FINALLY get the full R3-S3 Year CAM range for DXY... near 95.80. note that EURUSD already did this earlier in the year.

EURUSD already did the equivalent earlier this year. I believe the a new 2018 low around the year pivot will be a Wycoff test candle and instantly be bought (out of sellers)

Trade active:

Getting close to that backtest... added some short today @ 1.1620.

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If I move the bottom of the triangle to a different anchor point, we did indeed get a backtest today. Time will tell if this was the true backtest and we continue lower to the target

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Open mind people, open mind. Either we the daily formation is a big H/S, or we are attempting to complete bearish Impulse Wave, where the 4th wave is a contracting triangle.

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Taking some profit on this trade today as we make new August Lows. Another 60-70 pips to target.

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95.80 DXY at the Year CAM R3 is getting VERY close.

Trade closed: target reached:

1.1465, bang. As SOON as the previous 2018 low was breached rapid stop orders were hit in succession causing a crazy cascade. Well Done.

Comment:

Coming up to an interesting spot here on 200 Week SMA. If this does not hold the major 61.8% FIB from the 2017 bottom to 2018 top near 1.1186 seems to be the next likely target.