Traders,
The decline from the Feb.’18 high of 1.2555 is identified as a counter-trend pattern (a)-(b)-(c) that ended primary wave 1(circle) from the early Jan.’17 rally. Since then, prices dropped rapidly to the late Aug.’18 low of 1.1301 whilst unfolding into a five-wave expanding-impulse pattern (a). Evidence of a five-wave impulse is usually enough to confirm the larger uptrend has ended.
Wave (b) is acting as the counter trend to the preceding wave (a) developing into a Zig-Zag itself. Using fib-price ratios and proportions we are awaiting stage price-rejection and a subsequent reversal signature, projecting terminal price targets at 1.2040(+/-).
The completion of the (b) wave is indicating that our target, wave (c), with downside projections at 1.0815(+/-), will be developed into a five-wave impulse pattern, and thus we will be able to add another overlay of fib-price-ratio measurements to test for convergence levels later.
Take a look at my inverted and totally synchronized perspective DXY view here:
This level 1.0815(+/-), provides a critical point where a reversal would indicate the continuation of the primary trend 1-5(circle) and the beginning of the 3rd(circle) wave impulse.
Thanks for your attention
Trade with Discipline
Best
The decline from the Feb.’18 high of 1.2555 is identified as a counter-trend pattern (a)-(b)-(c) that ended primary wave 1(circle) from the early Jan.’17 rally. Since then, prices dropped rapidly to the late Aug.’18 low of 1.1301 whilst unfolding into a five-wave expanding-impulse pattern (a). Evidence of a five-wave impulse is usually enough to confirm the larger uptrend has ended.
Wave (b) is acting as the counter trend to the preceding wave (a) developing into a Zig-Zag itself. Using fib-price ratios and proportions we are awaiting stage price-rejection and a subsequent reversal signature, projecting terminal price targets at 1.2040(+/-).
The completion of the (b) wave is indicating that our target, wave (c), with downside projections at 1.0815(+/-), will be developed into a five-wave impulse pattern, and thus we will be able to add another overlay of fib-price-ratio measurements to test for convergence levels later.
Take a look at my inverted and totally synchronized perspective DXY view here:
This level 1.0815(+/-), provides a critical point where a reversal would indicate the continuation of the primary trend 1-5(circle) and the beginning of the 3rd(circle) wave impulse.
Thanks for your attention
Trade with Discipline
Best
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For a better view Note
Absolute synchronized outlook for DXY DXY Daily Chart
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Just published an article on #SeekingAlpha: “Making Clear Price Projections For The EUR And U.S. Dollar”. A small recap for the EUR, U.S dollar and the US10yr treasury yield, setting target projections and analyzing price amplitude. Any comments are more than welcome. seekingalpha.com/article/4205502-making-clear-price-projections-eur-u-s-dollar
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Getting ready for one last drop completing A-B-C(circle), opening the way for the larger Zig-Zag correction. Note
There is a variation which could mean one more higher high before the drop. Will post it as soon as it is validNote
Finally, got the higher high, pattern and price amplitude were incomplete. Looking for sales, backed up and synchronized with DXY, however, this time the price targets completing this mini-drop A-B-C(circle) are a lot higher. Note
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Devastating drop, as the last wave of a Flat pattern, should be. The first target was hit, looking for more downside to complete the pattern, after some correction. Note
Price dropped at previous target levels, completing an Exp flat instead of a Run flat. Reversal standby triggered, watch for buys from this level. Note
Euro/US$ still has more downside potential to projected price levels at 1.0508(+/-) where the completion of the primary 2nd corrective zig-zag pattern is expected.I have launched a blog as my personal thought repository and worth sharing readings for all things trading and markets that may catch my attention.
You can find it here: trading-manifesto.com/
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The first target was hit being off some pips. Major low has ended (a)-(b)-(c) zig-zag correction for primary wave 2(circle), confirming the uptrend as primary wave 3(circle) remains in upside progress.
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Price is moving to the second target. Eyes 1.0670 (+/-) for diagonal completion. DXY also one more leg up. Note
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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.