PRO_Indicators

DXY / M1 : highly probable monthly Elliott market structure

TVC:DXY   The U.S. Dollar Index
When I look at the DXY             on monthly basis and try to put Elliott count on it this is where I tend to expect.
I think we're on a bullish extended wave (so calls are more favorable).
The current state of that impulse is in corrective wave (4).
The apparent structure of that correction tends to be a divergent triangle.
We would be at the final wave of that triangle (from d to e).
This final subwave looks like an impulse and at this point we would still need to find a 4 point and then push lower again for a final 5th wave.

CONCLUSION, to me it seems like its a bit too early (on monthly basis) to buy dollar, we may require a short term final subwave count before reaching the perfect bullish entry.
I also note that we have the 2015 opening price of the DXY             slightly below.
This level also coincide with the triangle a > c trendline ...

Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
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