DXY has 1 more move to the downside for TVC:DXY by ConservativeOne1

Looks like the DXY will get another haircut tomorrow...but don't despair, we will see a viscous rebound very very soon...perhaps starts on Friday! The CPI (more like CP Lie) will come in a bit less than expected...the pump will happen...and the DXY will drop to the Centerline of the channel...that is the teal colored dashed line in the chart below....the abouts we should see the pivot...that would complete the larger 5 wave impulsive move to the downside to be followed by an ABC which should be fairly impulsive to the upside. How far will the ABC go? Good question...I think at least to the 0.618 retracement fib but we really need to see how far A goes before doing decent projection...more to come...

Comment:

DXY drop has materialized as expected...it could go a bit lower, but I see a pivot coming soon (next 12-48 hrs)....I will be reversing my positions on metals and stocks to accomodate the expected DXY pivot.

Comment:

just reversed positions...short stocks and metals

Comment:

Bottom in DXY should be in for now...expecting decent bounce from here for a few weeks...of course there is always a chance for another lower low...but I have taken the gamble after this extended sell off.

Comment:

Obviously my update above was wrong...we have pushed lower...and yes I say it again...we are close...very close in my opinion to a major pivot in the DXY. Payshaunce is warranted. as for my thinking...I will be waiting on a solid green daily close and 1 follow through day close and then will re enter.

Comment:

DXY has continued to chop around...payshaunce is warranted...I continue to believe a pivot is close.

Trade closed: target reached:

Dowside move should be over...I see a 1,2 and 1,2 set up here!

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