KXRTrading123
Long

DXY UPDATE - Konrad $ Comp Review

5 months ago
My Dollar Combo Index has been shaping up nicely on the count of the two cycles and I am seeing other items of similar process. I believe that we either had the bottom on 8/16 with the low at 11691 or a new low will only be a minor test and slightly lower. Based on the Count the suggestion to buy the open on August 18 would still hold. Stops can be low risk at this juncture.

We are we:
1) We are at Day 7. In the first count this was the absolute low, it is possible that day 6 (8/16) produced the low.
2) Divergences have materialized in both counts with the Stochastic and %R
3) The Murrey Math Osc, has gotten to the squeeze point of staying long. In the previous count prices were coming off of the low point and Day 8 produced a Buy Signal in Osc. I think here it will only be the squeeze and then a resumption of up.

The Bias is to Buy on August 18 on the open of Trading. With Stops below the must recent low. This count becomes invalid on a close below the most recent low as then it would have potential to move back in to the support band. Obviously no one can predict the future and this advice is only provided as a means of a potential observation. Trade at your own risk
5 months ago
Comment: Here is an update with the adjustment to the overnight low. August 18 is our BUY time frame. Conservative trade would wait for the break of the steep downtrend line. Aggressive Traders could begin to scale in from here.
snapshot
JJenkinsRM
5 months ago
Great stuff bud!
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