DXY Bearish – Double Three in play

DXY (Dollar Index) Structure shows me that it has more chances to show a Bearish outcome than a Bullish one.

According to the previously posted “DXY – Cheating with the Joker – Double or Triple Three?” video, this could very much turn out to be true.

Wave Counts suggests that the Double Three Pattern is complete and that DXY could start unfolding a possible Ending Diagonal towards 87.30 Levels.

Preferred direction is Bearish and the Main Count is my favorite at these times, however, should the Dollar Index start a Bullish move, I would be looking for limitations around 91.40 Levels.

Dollar Index – 2H Chart (picture):

Main Count vs Alternate Count:

Alternate Scenario:

If DXY would surprise with one more Bullish Swing, it would be most probably considered as limited because that would imply extending the current Corrective Structure from a Double Three into a Triple Three, which would rarely occur.

*Note: 91.40 would be closely watched if this scenario would turn out to be true.

Reasons:

50% Fibonacci Retracements of Minute III (red)
150/161.8% Fibonacci Extensions of Minuettes (w)&(x) (purple)
Bearish Divergence expected at the mentioned Fibs

Preferred Scenario:

Expanded Flat within a Double Three Pattern would be considered as complete at these stages as multiple facts point towards that possibility.

38.2% Fibonacci Retracements of Minute III (red) have been reached (default measurements for Minute IV (red)).
False Break-out caused by Minuette (x) (purple) decreases the chances of the Triple Three scenario
100% (default measurement) Fibonacci Extensions of Minuettes (w)&(x) (purple) have been reached
Sub-Minuette c (blue) of Minuette (y) (purple) unfolded as an Ending Diagonal which is seen as a reversal Patern
Minuette (ii) (black) shows a possible Right Shoulder in a Head & Shoulders Formation, which is a Continuation Pattern
Recent up-swings are causing lower-highs which could be a solid sign of upcoming Bearish Divergence