USD Getting Trashed – Huge Trades & Market Shift
The Market has been trading in consolidations for quite some time, ever since early February.
During these 3 months, the Dollar Index (DXY) has been unfolding a very complicated Corrective Structure, which was a challenge to label correctly.
Even if the Market made things hard for me, somehow, I managed to get the swings right.
I called all of them!
- “FED December Rate Hike – DXY Technicals – Elliott Wave Analysis”
- “Dollar Index (DXY) – Bullish Correction – Minute IV”
- “Dollar Weak – Metals Bullish – EUR/USD Bullish”
- “DXY – Bullish Break-Out – Last Push”
- “BIG RED BEAR knocking on your door! 5 High Probability Trades”
- “DXY Bearish – Double Three Pattern Unfolding”
- “FOMC Press Conference – DXY – Triple Three”
- “Bull Riding – Rodeo Trading – Intraday Market Orders”
- “NFP Trades – Gold & Euro – Bullish Positions”
- “USD a.k.a. Dollar Hulk – Green Bull Rodeo”
Feels good to be on top of it and get the Market’s pulse properly.
Now, I believe it could be time for the Market to continue with the dominant trend, which would translate into the 5th Bearish Minor 5 (red) for the Dollar Index (DXY).
Dollar Index (DXY) – Daily Chart (picture)
The current Wave Count suggests that the charts could be positioning for a shift. This would lead the current corrections to finalize so that dominant trends would continue.
If this scenario would turn out to be true, this would mean that after the expected swings would complete, so will the current Cycles, thus leaving room for another Cycle to commence.
Dollar Index (DXY) – Daily Interactive Chart
Dollar Index (DXY) – 2H Chart (picture)
Dollar Index (DXY) – 2H Interactive Chart
Trades & Set-ups
EUR/USD – Daily Chart (picture)
EUR/USD – BUY Positions:
- Aggressive Entry – 1.2100 with SL @ 1.1850
- Moderate Entry – 1.2000 with SL @ 1.1700
- Targets – 1.2400 / 1.2600 / 1.2800 / 1.3000
- Bearish Levels @ 1.2800 & 1.3100
EUR/USD – Daily Interactive Chart
GBP/USD – Daily Chart (picture)
GBP/USD – BUY Positions:
- Aggressive Entry – 1.3830 with SL @ 1.3500
- Moderate Entry – 1.3700 with SL @ 1.3450
- Targets – 1.4100 / 1.4400 / 1.4550 / 1.4750
- Bearish Levels @ 1.4650 & 1.4800
GBP/USD – Daily Interactive Chart
XAU/USD – Daily Chart (picture)
XAU/USD – BUY Positions:
- Aggressive Entry – 1304.00 with SL @ 1280.00
- Moderate Entry – 1295.00 with SL @ 1270.00
- Conservative Entry – 1285.00 with SL @ 1260.00
- Targets – 1340.00 / 1380.00 / 1420.00 / 1450.00
- Bearish Levels @ 1450.00 & 1480.00
XAU/USD – Daily Interactive Chart
Safety Measures
- When in the green, moving SL to break-even or in profit
- If very conservative, waiting for the DXY to confirm the Bearish Divergence
