Above, I have done a fractal analysis of the US Dollar index . It shows that the US Dollar index is likely to drop over the next years; however, it appears to have started a new uptrend (read deflation), from a long-term point of view. Indirectly it shows that gold is likely to perform in a similar manner to how it moved from about $100 to $850 in the late...
The dollar index futures have been tracing a strong monthly uptrend and currently grinded to a halt, with considerably strong declines in most dollar pairs. Right now, it's range bound, stuck between 10 month levels that will soon become 11 months after March's close. For price to move, it needs to clear this zone, either up or down. Once below, it can accelerate...
With Elliott wave, one must remain certain that more than one outcome is possible. A lot of EW technicians (and others for that matter) often do the opposite and become too certain of only one outcome. Some of my best trades have been when I have placed a STOP and REVERSE order at the point where I am wrong about the direction. (Hard to do with my ego hahahaha)....
Hello Traders, Looking at the EURUSD pair we have a Wolfe Wave that just completed at point 4. Looking at the 1-4 line trajectory we can see that it has acted as an anchor throuhgout the formation of this Wolfe Wave. I'm looking at 5 and potentially 5' to complete. If we see completion at point 5 look for the 1-4 line as your exit target. If we make a lower AND...
DXY US Dollar Index bearish divergence RSI SHORT Be careful on any USD related pair! Cheers, SinatraFX twitter.com
Hello Traders, In this Wolfe Wave I want to highlight the internal moves between the points. Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on. ab=cd Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in...
Here is a forecast of the Dollar Index based off of the Wolfe Wave and Geo's Off-Set Rule #3. Geo's Off-Set Rule #1 = 1-4 Line Geo's Off-Set Rule #2 = Point 4 Geo's Off-Set Rule #3 = Point 3
First of all I wash you all a happy prosperous new year. We still believe that wave 4 correction is still underway and we will see the continuation of it during this week. Another scenario is that wave 4 is a running flat in which wave b goes a little bit higher than wave 3 before going down but we don't see this scenario in other USD crosses. If you are looking...
This is a follow up trade to my prediction of the top for the Dollar. Check related ideas for my previous forecast. We have a very good trade setup here and the target and expected ETA is on chart. The lackluster reaction to the Fed's rate hike and the current sentiment readings make me think that this trade setup is of high probability, making it an ideal trade...
The Dollar Index quarterly chart has an uptrend signal comprised of 20 bars that has hit the target ahead of time. To make things more interesting, the range expansion rally near the top is about to fail, meaning that price might not reach the target on chart on time. If this were to happen by the end of the year, a retracement of the whole advance would be a...
WEEKLY CHART - Keep your eye on the Euro. We are getting closer to a break. If the break has legs then it could run for a few weeks.
There's a distinct possibility that we will see either a major correction or a larger scale reversal in this pair, in 3 weeks or sooner, according to the methodology that I use, which is time at mode. For the channel enthusiasts, we got an intermediate term downtrend channel top upper barrier above, in the area of very strong resistance, which I derive from my own...
The US Dollar has formed a symmetrical triangle during this period of consolidation, as seen in various currency pairs in the forex market. With the bullish sentiment the US Dollar is still holding on to, we can likely see the dollar break above the symmetrical triangle. After the price breaks out above, we can then look for an entry to continue the ride up.