Retracement done, bullish move coming. ABC bottom of trentline
retested of breakout of down trend USD Weak 5 impulse move coming
1) Breakout retest currently happening 2)retracement 50% happening 3)USD(DXY getting weak after long bullish momentum
1) 5 wave impulse has been completed 2)Expecting the ABC Elliot's wave retracement move 3)monthly and weekly pivots resistance zones
1)Double Bottom 2)5 wave move 3)Month end 90% of time Indices are bullish
Price broke out of consolidation zone and had come back to retest the zone which will push price up with bullish momentum. (mitigation Zone Strategy)
Supply Zone key area Trend line key resistance zone Concluding Confluence both showing resistance to force price to drop.
-Weekly Resistance of Pivots -Mitigations Zone -Took out high that was attracting sellers at double top (Bears taken out now it can drop)
1)61.8 Zone 2)Weekly pivots Resistance Zone 3)Order block Zone
Dollar weakness confirmed major resistance zone. Divergence confirmed
-Retest of breakout zone -Dxy weak so Indicies to rise
1)key support arear 2)confluence Zone. NB: Markets are usually unstable in last quarter of year so you need to trade carefully and expect Spikes and alot of manuiplulation.
1)trend line retest 2)break of trendline to up side 3)pivots level for bullss (double bottom complete)
-Simply a breakout happened and we expecting a retest to occur before we continue down. -Order blocks in play As the month is coming to end next week bulls are expected as indicies are bullish Towards month end.
-Dollar index is at Resistance level,therefore looking for dollar weakness. -If you look at monthly time frame you will see we at Support level. -Pivots System also shows we at support level (all these pointer show confluence at this level for bulls.
-Fomc this week expect Dollar to drop -Resistance area we currently at is very strong, price will react in this zone.
Dollar weakness expected using Elliot's wave count and zone on Daily. Also Cpi tomorrow 13th Sept should drop it.
Expecting a Impulse move on us30 (retest of trent line twice confirms bulls in charge). monthly Pivots bullish zone confirms this move