The multi-timeframe Monthly vs. Daily analysis both tend to confirm that this is to early to make a decent call on the Dollar. There's still a chance to catch up on nice trades during the consolidation. It's too early to know what this correction will look like, bet let's forecast the most common zigzag.. We would still be searching for A point bottom on montly basis. And Daily tends to say that we still need to complete the wave with a 5th final subwave to reach A. Of course this point can be bought and I will if I have a proper signal. For now my plan will be to sell one last time for the fifth bear wave (this will allow me to call A point with a free stoploss paid by the short !)
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/follow if you feel like it deserve it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators
Just want to share an idea here with you, I not one of those guys who would criticize your work. I respect your ways and your analysis, I think you're doing a great job and your charts look awesome.
My wave count on DXY shows me an ABC pattern so I wold not expect another high soon, on the contrary, I am expecting a Crash.
Let me know what you think please, thanks.
Lionheart-EWA
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PRO_Indicators
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@Libeloo24, Also think we're doing ABC correction here.. but correctives are hardly predictable.. speacially not at this stage. I'll certainly not buy now, but not selling either... I rather like trading the dollar versus other currencies that have a better trend than trading the dollar index at the moment ;)
Lionheart-EWA
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@PRO_Indicators, Thanks for coming back to the comment. I am not selling DXY or trading it. I am also trading FX according to DXY as well but I am mostly interested in dumping the dollar later, if this correction occurs.
My wave count on DXY shows me an ABC pattern so I wold not expect another high soon, on the contrary, I am expecting a Crash.
Let me know what you think please, thanks.