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DXY - Dollar Update TVC:DXY With what am seeing on the chart, there is a 60% possibility that DXY will take out this 4 hour time swing low, which is also the recent low on daily. This automatically means currencies paired against the dollar like EURUSD, GBPUSD, AUDUSD etc, will be bullish for today. However, DXY is still bullish, the drop is just a retracement to take out sell stops liquidity. How dollar react after taking out the low will determine what our next bias will be.
TVC:DXYShort
by Elijahenoch7
Elliot Wave, Demand and Supply, SMC and ICT in agreementI will be using 3 strategies//concepts to analyze price here Demand and Supply Strategy Price is currently trapped within a demand and a supply region and both regions are currently bouncing Price about but one needs to break in order for Price to continue trending. I favor the demand zone to break because 1. We are currently in a downtrend 2. The rejections from the demand zone are weak compared to the rejections from the supply zone which were sharp and fast I would suggest selling from 1926- 1928 because Price would retest the Supply zone to pick up more orders before it shoots down towards the next demand zone at 1905-1907 Elliot Wave Strategy Price is currently running 5 waves down, and looking at the chart we have highlighted and completed wave i through to iv. Wave ii retraced 61.8% of wave i which means wave iv would retrace not more than 50% of wave iii which we saw last Friday when Price peaked at 1929.69 We can see a divergence in Price and MACD of wave ii and wave iv, which means a continuation of downtrend is inbound and according to Elliott wave, its the beginning of wave v down to 1907-1905 region which marks the 1.272 extension of wave 1 SMC and ICT From the 15mins chart, it can be seen that Price has done a CHoCH/MSS, and it left an area of FVG/Imbalance in a discount area while doing that. We expect Price to trade back into that FVG/Imbalance and mitigate the 5min OB before we see another massive move to the downside RIsk Management is advised I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍ if any of the concepts makes sense to you or not. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
TVC:GOLD
by owlswift_fx