Expanding triangle (wave B)
Took a harder look at the DXY chart from October 2022 to end of December 2023. I managed to see a ABC structure with wave 'B' as an expanding triangle. Wave A and wave C can both be labelled as impulsive 5 waves. Wave C is 0.618 of wave A.
We can say that the move from October 2022 to end December 2023 is corrective. And the subsequent move should lead the DXY index higher.
As a follow-up to the post of DXY a week ago, the corrective wave 2 looks complete at 102.8. It should head higher. I know most are bearish or neutral on DXY but I am still bullish on DXY.
We can say that the move from October 2022 to end December 2023 is corrective. And the subsequent move should lead the DXY index higher.
As a follow-up to the post of DXY a week ago, the corrective wave 2 looks complete at 102.8. It should head higher. I know most are bearish or neutral on DXY but I am still bullish on DXY.
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