
💲 DXY (4H), One more down before breaking out
Still is in the same structure, short term expecting a down move to break/touch the line, and then as shown on the chart, the up move is expected
Still is in the same structure, short term expecting a down move to break/touch the line, and then as shown on the chart, the up move is expected
The previous analysis is still valid and as forecasted it seems wave 4 is completed and soon we should see signs of an impulse for the price action to get out of the corrective structure and start the 5th wave.
The trade is still active and its stop-loss moved to profit, just above the local trendline.
The forecast has shown on the chart, plus 2 low and lower possibilities.
If my wave counting is correct, we are in the 4th wave of a strong uptrend which seems is getting to be completed because of 3 possibilities:
We are expecting a rather fast completion of this corrective structure for the preparation of breaking the weekly trend line.