Did a quick trade on DX futures that I posted in the daily. Bought DX at 77.48 and sold it at the red line at 77.86. This move should complete the wave (ii) or just a bit higher above 77.90.
It's still possible that DX is working on (or has already completed) wave 2 of 3 because price has not gone below what I'm counting as a potential 1 of 3 which began at 77.12 or 77.13. IF this count is correct, then the next move up on the index will be 3 of 3 which should rip to the upside. I'm thinking that we should see signs of this tomorrow--or not. So by end of day we ought to have a better handle on the EW count on the dollar.
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Do you expect the DX to start back declining soon?
ReplyDeletenice job, Steve.
ReplyDeleteIt's still possible that DX is working on (or has already completed) wave 2 of 3 because price has not gone below what I'm counting as a potential 1 of 3 which began at 77.12 or 77.13. IF this count is correct, then the next move up on the index will be 3 of 3 which should rip to the upside. I'm thinking that we should see signs of this tomorrow--or not. So by end of day we ought to have a better handle on the EW count on the dollar.