As the rise of DXY follows my plan as shown in previous ideas.
it has made 91.0 target 1 and could continue to possible key FIB values at 92.0 which would result in gold double bottoming at 1764.
Small market balance required I should see filled.
targets valid and on correct path as things stand.
We have a Inverted Head & Shoulders forming.
Looking to buy off of the bottom of the right shoulder so I can have minimum risk to the neckline then anticipate a break of that neckline into my targets.
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Inverted Head and Shoulders
Looking at DXY price action it is growing strength and bulls have control.
Looking for dxy to breakout towards 91.0 which is why we have reversal patterns setting up in the dollar pairs.
Wait for neckline break and buy.
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Head and shoulders set up
As we can see the dollar is setting up a reversal pattern for almost all use linked pairs.
With dxy set to reverse to 91.0 this will make way for EURUSD to fall a bit and allow bears to take control for the time being.
We must see dxy push for this trade to come in
Possible DXY structure as bulls look to take control for the time being.
Looking at a reversal pattern inverted Head & Shoulders this could signal a turning point at this time for the dollar.
believe we could see 91.0 and if bulls remain in control at this point 91.600 also in a 5 wave sequence.
Very skeptical however with all the fundamentals coming out.
Inverted Head & Shoulders
With the strength of the dxy bouncing back this week I do anticipate a breakout of this down.
great opportunity for institutions to SL hunt on the trend line but an upside reversal has been signalled we just need to wait for a break in the trend line.
SWING TRADE TP. 1.4243
Bitcoin has almost finished forming a Head and Shoulders pattern.
We do anticipate a drop and this reversal pattern could confirm that.
Sell a break of the neckline however very volatile so be careful.
looking for around 5000 pips. Enjoy don't forget to give me a follow for more trades.
Tesla seems to be an un-stoppable stock which loves to rally.
I believe our large impulse wave here has ended. we begin the price correction and now are entering an accumulation phase.
This should allow us to target 1195 for 2nd of Feb. Fib targets at 1.618.
Fundamental driving factor -
Nice butterfly pattern set-up
With DXY push to the upside and bulls finally showing some strength I anticipate the dollar to be strong at least at the start of the week.
Long USDJPY to complete this pattern set up.
Fundamentals also show japan have now identified a new form of covid strain which may weaken a weak Yen further.
ETHUSD we have seen a great push up along side bitcoin.
One doing well helps push the other crypto currency forward.
Anyway a break of ATH which I am anticipating to happen we should see ETH go to target price of 2065.
Waiting on confirmation of break before entering trade personally thanks.
Called first buy @ 1819 with target of 1960
Back again with a new long and new target.
Dxy is falling to bits and I believe this year will be a real struggle all round for the strength of currency.
Stimulus approvals in America being approved like there is no no tomorrow. This will continue inflation and de-value dollar.
We will see lots of people moving to...
Nice Inverted Head and Shoulders that set up.
Had its impulse wave now looking for an ABC correction wave to re test neckline where I look to long for 120 pips
Weak dollar and with AUS almost covid free this is a good sign for its strength to grow against the dollar.
Buy @ Neckline test
Nice easy inverted Head and Shoulders.
Currently waiting for neckline break and test to enter long.
quick 120 pips target nice easy set up.
Fundamental driving factor:
Covid19, NZ & Aus countries are both almost completely rid of covid
GBPNZD Head and shoulders pattern almost finished forming.
Right shoulder almost complete, looking for market to open up to complete the right shoulder.
This is where I look to sell TP1 at neckline and TP2 at the 4HR gap fill.