The weekly chart also suggesting we are heading down into the DCL.
In most of the cases the DCL is printed at or below the 10 EMA (Weekly chart!)and we always have minimum 2 red candles.
Especially after the Bollinger band crash on the weekly chart...
I highlighted the previous DCLs by red arrows on the chart.
The DCL decline lasts for minimum 2 weeks. So the bare minimum of this DCL will be around 1295-1300.
In most of the cases the DCL is printed at or below the 10 EMA (Weekly chart!)and we always have minimum 2 red candles.
Especially after the Bollinger band crash on the weekly chart...
I highlighted the previous DCLs by red arrows on the chart.
The DCL decline lasts for minimum 2 weeks. So the bare minimum of this DCL will be around 1295-1300.
Comment:
During the last few years the yearly cycle low occured at the end of the year.
Trade closed manually:
1283,9$
But this scenario is not out of the table if stocks are entering into the year-end-rally and the dollar starts to rally out of the intermediate low.