The 4HR USDX W-Bottom Rocketing USD - Today!
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I know it reads like a headline in a newspaper trying to sell the Sunday paper, but that is really not me. But I am also not the kind of person who finds keeping a good secret - a secret.
We are all here on Tradingview to watch each other's backs in a risk management and learning experience kind of way, in relation to being a consistent and profitable trader.
A couple of things to be aware of today in your Friday-trading. I am quite convinced that the USDX will be propelled upwards & finally through 101.85 causing a sustained breakout in the dollar over the next several days to a week.
I see this occurring right before, at the open or within in an hour or 2 of the NY market session today. What reason(s) do I have to be propagating this type of fear and panic into Traders today. I will tell you right below!
The 4HR W/Bottom is now properly formed. Well the finishing touches are being made to the right-side of the W as I write, which will give the dollar plenty of relative strength. Helping that cause? Well of course that would be the momentum -oscillators RSI & Stochastic's on the higher timeframes.
I watch these a lot in my own trading because they warn me about supply/demand levels especially when commodities, currency's, stocks, metals etc, enter their overbought and oversold zones - for example the USD has been beaten down the past month or so and it's now oversold, but when something is oversold, provided that it's a commodity, currency or thing that people want and demand again, it's oversold state becomes one with increasing buyer demand at cheaper prices - then boom - breakout.
I will be watching closely the Vix Index as well. I see it possibly breaking higher than 15% today and as for Gold - well after yesterday's shot-in-the-arm, I for one will be Shorting it back to 2430 to 2450 levels.
Finally, take a look at the following current 4HR USDX chart. What I see occurring with the Oscillators' is that the RSI / Stochastic's on the 1HR, 2HR, 4HR Daily & Weekly Charts, will cross-up out of their oversold condition's concurrently and simultaneously, igniting the USDX off it's W-Bottom and smashing through 101.85 without so much as the blink of an eye.
Maybe I am a looney you are thinking? Yes, but a looney who capitalises ahead of time.
I know it reads like a headline in a newspaper trying to sell the Sunday paper, but that is really not me. But I am also not the kind of person who finds keeping a good secret - a secret.
We are all here on Tradingview to watch each other's backs in a risk management and learning experience kind of way, in relation to being a consistent and profitable trader.
A couple of things to be aware of today in your Friday-trading. I am quite convinced that the USDX will be propelled upwards & finally through 101.85 causing a sustained breakout in the dollar over the next several days to a week.
I see this occurring right before, at the open or within in an hour or 2 of the NY market session today. What reason(s) do I have to be propagating this type of fear and panic into Traders today. I will tell you right below!
The 4HR W/Bottom is now properly formed. Well the finishing touches are being made to the right-side of the W as I write, which will give the dollar plenty of relative strength. Helping that cause? Well of course that would be the momentum -oscillators RSI & Stochastic's on the higher timeframes.
I watch these a lot in my own trading because they warn me about supply/demand levels especially when commodities, currency's, stocks, metals etc, enter their overbought and oversold zones - for example the USD has been beaten down the past month or so and it's now oversold, but when something is oversold, provided that it's a commodity, currency or thing that people want and demand again, it's oversold state becomes one with increasing buyer demand at cheaper prices - then boom - breakout.
I will be watching closely the Vix Index as well. I see it possibly breaking higher than 15% today and as for Gold - well after yesterday's shot-in-the-arm, I for one will be Shorting it back to 2430 to 2450 levels.
Finally, take a look at the following current 4HR USDX chart. What I see occurring with the Oscillators' is that the RSI / Stochastic's on the 1HR, 2HR, 4HR Daily & Weekly Charts, will cross-up out of their oversold condition's concurrently and simultaneously, igniting the USDX off it's W-Bottom and smashing through 101.85 without so much as the blink of an eye.
Maybe I am a looney you are thinking? Yes, but a looney who capitalises ahead of time.
Trade attivo
UPDATE ON THE LIKELY BREAKOUT OF THE USDX TODAY FRIDAY:
5 timeframe analysis exists on the following chart. Usually, the different timeframes are working together but their RSI and Stochastic readings exist in different locations at any one time. So for example, usually if we compared the 15M Stochastic to the 120m Stochastic the former might have a reading of 25 while the latter (120m) might show a reading of 80. Normally all the different timeframes would have differing readings, normal.
But every now and then from my prolific and nerd-like study of these Oscillators, that revealed to me that every once in a while during the anticipation of good or bad news the Oscillators RSI & Stochastic's work together in unity on a similar reading. For example, take a look at the chart of the USDX right now and you will see that all timeframes have RSI and Stochastic's readings of approximately 15-25. In other words, their readings are all the same. The only one 'late to the part' you will notice is the Daily Stochastic (2nd from right), but the Daily will form up with the rest around that 15-25 mark and I estimate about half way to 3/4 of the way through NY session, so perhaps 2pm-3pm is when the RSI and STOCHASTIC'S will cross-up together in sync across all the timeframes, triggering the USDX to rally through 101.85 and into breakout territory.
Trade attivo
Long USDX:
Here is a 4hr chart of where the USDX will launch from.
I can report that the Daily chart is almost in sync with the other timeframes now. I see the fireworks starting at NY session open.
Trade attivo
All of the USDX soldiers are forming up nice and low to discreetly launch their attack on 101.85
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