DXY has advanced in a parabolic curve from 89 to 104.
Parabolas typically reflect frenzied, irrational buying and one can expect a swift correction - typically 50% of the parabolic move.
A 50% decline from the top to the start of the parabolic move gives us a short target of 97.
Parabolas typically reflect frenzied, irrational buying and one can expect a swift correction - typically 50% of the parabolic move.
A 50% decline from the top to the start of the parabolic move gives us a short target of 97.
Note
Did you think you could make money by reacting to the news?Note
shorting dxy was a terrible idea; fortunately this was just a chart
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.