"if the Jan 6th LOW at 89.21 was the count of (III), the recent HIGH at 93.43 would have been the count of (IV) and we should see DXY taking a deeper dive to break the Jan 6th low in the fifth leg." quoting @Anakyn as it's 2nd bias (which is not mine)
Over the past weeks DXY had forming an Ascending wedge, and drop from the top targeting the WW's EPA which it had almost reach here at 91.4. we are now close to the bottom of this 2021 uptrend channel of DXY.
I see DXY retracing to 89$ again after a little bounce back to 92.5 forming the top of the right shoulder of the H&S. If its going through the resistance it would invalidate this scenario, and go for the other
Over the past weeks DXY had forming an Ascending wedge, and drop from the top targeting the WW's EPA which it had almost reach here at 91.4. we are now close to the bottom of this 2021 uptrend channel of DXY.
I see DXY retracing to 89$ again after a little bounce back to 92.5 forming the top of the right shoulder of the H&S. If its going through the resistance it would invalidate this scenario, and go for the other