Potential bat formation forming on the Weekly and Daily. Huge momentum has been in the south direction with no sign of pullback yet, maybe this will be the pull back before price continues to the down side. Buy Limits have been placed on the 88.6 fibs level.
Weekly low test candle rejecting weekly 51EMA. Daily double bottom leading to intraday doubly bottom. Break and retest of H1 51EMA with stop below the 618 retrace of previous move up. Aclose above the 111.50 level will give weekly tweezer bottoms going into next week.
I can see a bigger wave 2 forming in red and a 3 wave forming in blue.
What enforces the move up it is the 61% of retracement of wave 1 in red and 161% of wave 3 in blue.
They are exactly in the same price zone.
Let's see now
Entered at 180 looking to go further long waiting for a pull back 200-205 for further long positions.
First target- 240
Second target- 260
Stop loss- Below 200
Happy Trading and a Merry Christmas :)
My mate @ashalker and I have been looking into the U.S. Dollar Index.
We see a clear motive wave (12345) or Elliott Impulse.
We will look into smaller timeframes and look for buy setups!