US Dollar Currency Index Possible Bearish Bat Formation
It seems there may be a Harmonic Bearish Bat forming on the DXY (TVC) with the 4Hourly and Daily Charts
Currently the DXY is in bearish trend however TDI has completed a very small Sharkfin out of the water but no blood in the water as yet and TDI shows close proximity to oversold position, therefore we 'could' see a confirmation of this Harmonic Pattern/Bat, if price action reaches the confirmation area. Support and Resistance areas have been marked, therefore the SL would be positioned above resistance should a SHORT be taken for the 2x Harmonic Targets.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Currently the DXY is in bearish trend however TDI has completed a very small Sharkfin out of the water but no blood in the water as yet and TDI shows close proximity to oversold position, therefore we 'could' see a confirmation of this Harmonic Pattern/Bat, if price action reaches the confirmation area. Support and Resistance areas have been marked, therefore the SL would be positioned above resistance should a SHORT be taken for the 2x Harmonic Targets.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Disclaimer
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