FX:USDOLLAR   Dow Jones FXCM Dollar Index
Hello Traders,

Here we have a VALID HARMONIC ABCD MOVE on FX:USDOLLAR             , that has just completed. For the past 3 weeks US DOLLAR INDEX             has been in an ugly consolidation. This can be clearly seen by looking at the 50 simple moving average ( SMA ). Market has been constantly breaking above and below the moving average, also for the past 3 weeks. According to my analysis, currently US DOLLAR INDEX             has no clear direction yet. The main reason for this could be the POSSIBLITY of Fed Interest Rate Hike this coming September. So traders and investors are being VERY CATIOUS about where to invest their money.

I wouldn't be surprised to see US DOLLAR INDEX             consolidate even more from here on forward, possibly up to the Fed Interest Rate Hike News. So right now market is at the entry price and we should consider this trade setup to be ACTIVE. Also note that we have a really good SUPPORT ZONE below, from where the market has just reacted. See the chart above for more details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)

CORRECTION: I misspelled the 2nd target as " TG #1: +42 Pips", it should read " TG #2: +42 Pips".
UPDATE #2: Hey guys, 2nd target has also been reached. All positions are now CLOSED on this setup. Good Trade :)
IvanLabrie moneymaking
Beast trade mate!
moneymaking IvanLabrie
Hey mate, hehe yes. I had a very good feeling about this one. There was no way I was letting this one go. I would say that currently this is the BEST way to trade the US DOLLAR INDEX, buy the low and sell the high :)
+1 Reply
IvanLabrie moneymaking
You took the pound and euro short? (posted them)
Seems to be moving as planned.
moneymaking IvanLabrie
Ya mate, just couple of minutes before I saw your idea on the GBPUSD. They working pretty well right now.
UPDATE #1: Hello everyone, 1st target has been reached. Stops move to break even :)
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