From the previous Analysis with the Dixie, if we do see the USD index break above 119, the next target will be to all time highs. You take the difference between the high and the low of the Enormous W formation and add it to the highs. This will not be good for other currencies. Something big is brewing in the pipeline and it's about to explode! Target 2 - 166
In the medium term, the Dixie (US Dollar Index) broke out of its long term downtrend in 2014. Since, it's consolidated between a range forming a large Double Bottom. And now that the price has broken out means we can see a strong move to 120.00. What this means is we can continue to see weaker currencies such as the pound, euro, rand and yen. This can spark a lot...
Hey everybody!👋 Today we take a dive into the U.S. DOLLAR CURRENCY INDEX chart. Price broke down out of the consolidation after initial impulse down. Price action created sort of bear flag. Recently we jumped back up into the consolidation zone, so let's see if the move down was just a fakeout, or actually real break and the bear flag is really what is going on...
We are currently range bound I will be waiting for the dollar index to break structure before I enter a trade.
Looking for price to break the support zone, then retest before l enter any bearish trades.
***None of the idea I share, including this one, should be taken as financial advise. Tread lightly and if ever you find yourself certain of something, think again.*** Previous Idea and Trend In my previous idea (linked) on PCG I said I'd expect this stock to struggle downward most of the summer and reach a strong support level in the low $9.00 range. This has...
Thank you for the support, please leave a like if this helped you at all! :) Basic Price action turning points for the week noted above. Will see if we move into any key levels on Monday for an entry.
#DIXI.U - Dixie Brands closed Friday below a descending triangle support line(lower orange line), which up until Friday had been propping price up as traders had previously been holding above $0.135 which is where the lower triangle line is drawn. A descending triangle is a bearish chart pattern that is created by drawing one trend line that connects a series of...
Dixie Brands is testing the upper line of a falling wedge pattern while moving upward within an uptrend channel. As a sign of strength, price needs to continue to hold above the falling wedge and eventually break above short-term resistance at $0.24 in order for price to see upward continuation and be considered bullish. A failure in price to move above...
1.618 = 1.093 now we have channel and upside reciprocal target. wouldn't be surprised if price smashed April 2017 gap up first though.
I thought Mr Trump could jawbone um down but the only way we get weaker dollar is if huge infrastructure bill passes. US Govt (admitting or not) has already embraced MMT since Nixon.
GRAPHICS AND EXPLANATIONS SHOULD BE CLEAR
Hey traders, we may have seen the completion of bearish Wave-B last week which means this a potential powerful rally may be forthcoming in the next week or two. Alternatively, a bearish breakout would require a recount. My bias is to the upside despite the political uncertainty.
Hey traders, I like the USD long this week. However, it may not be until the end of the week until we an capitalize on a bullish breakout. The first level of resistance has not yet been tested. After this level is broken, I want to get long. Cheers
Hey Traders, here's an updated count on our beloved Dixie. I like a short in both the short-term and the long-term. We may see a pop on the bottom triangle barrier into wave-(E) of the triangle. Compare this against the other indicies and you'll find some nice trades on USDJPY and AUDUSD. Cheers
This is a textbook Elliot wave impulse move to the downside with clear alternation. We are clearly on a wave 5, however, I'm not quite sure if we have completed the wave yet. It appears to be close to popping out of the channel, which suggests sellers are drying, but usually wave 5 is equal to the length of wave 1, so I'm waiting to see what happens after...