DXY Double Top with neckline break confirmation

19 giu 2016

DXY has confirmed a double top, and a neckline break. However, it's hesitant to fall just yet. We can see starting from the right top, prices started a 5 wave pattern, and is now in the correction phase. We're looking for B here, which might be right at the same higher low we previously posted at 93.41. This would create a double bottom, and send price up to the measured move at C. That is also the 61.8% retracement from the top of the double top to the neckline. From there, we should see a move down into 86.64 to complete the double top.

19 giu 2016

Nota

If a pin bar is posted here at the arrow, then that should be the signal to go long with stops below the low. This is a "low, lower low, higher high, lower high" reversal setup.

19 giu 2016

Nota

20 giu 2016

Nota

This looks like a decent pin bar trigger.

21 giu 2016

Nota

Price respected the level and started the rally up.

24 lug 2016

Trade attivo

Price hit the C target

17 ago 2016

Nota

Idea worked out pretty nicely. Retest of 95 to get in short again.

7 ott 2016

Nota

Top trendline adjusted. this is where we go down for the DXY