Long based on DXY

As we have been saying for a few weeks now we're expecting a short movement on the Dollar Index. Once that happens we will see long trades on EURUSD, GBPUSD, NZDUSD and AUDUSD. Keep an eye on the index for a breakout then decide which pair looks most likely to give the best price movement.

I'll update my ideas as they develop
First rule of trading - Protect you capital

Any one trying to learn Elliott Wave Theory can find a FREE comprehensive Building Blocks video course on my website. See my profile for the link.

You can also follow updates via twitter (link from my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon

Kommentar:

OK things are moving up slowly - we could possibly be looking at another entry setting up. This trade depends on what happens on DXY so keep an eye on both

Kommentar:

Price has move up as forecast but not in a convincing manner. It currently looks like it wants to move back to the bottom of the channel again. I'm still looking for a long trade so I'll not trade it down if it goes that way - rather I;ll be keeping an eye open for any long set ups