Hello traders, Dollar Index in 4-Hour Timeframe This analysis is prepared in 4-hour timeframe but has been published for a better view in 8-hour timeframe.
The dollar index is forming wave c of wave four.
Within wave c it is likely that wave 1 is still forming.
Wave 1 is inside a leading triangle pattern.
From this pattern, it can be said that wave 5 has not yet formed and we assume that by hitting the lower side of the triangle, it will start its ascent by defeating the upper side.
And this ascent continues until around the middle line of the pink channel and then the descent begins again for the third wave.
As we have shown in the picture, the trend can continue its ascent to the bottom of the pink channel by breaking the upper side of the triangle.
It will also be able to start a downward movement from the same range by breaking the lower side and the roof of the pink channel.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
The dollar index is forming wave c of wave four.
Within wave c it is likely that wave 1 is still forming.
Wave 1 is inside a leading triangle pattern.
From this pattern, it can be said that wave 5 has not yet formed and we assume that by hitting the lower side of the triangle, it will start its ascent by defeating the upper side.
And this ascent continues until around the middle line of the pink channel and then the descent begins again for the third wave.
As we have shown in the picture, the trend can continue its ascent to the bottom of the pink channel by breaking the upper side of the triangle.
It will also be able to start a downward movement from the same range by breaking the lower side and the roof of the pink channel.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️