The DXY(US INDEX) has been in a correction since February. It has been forming a diagonal structure since early July. The price has completed wave 1-4 of the diagonal structure. Wave 5 is pending. If the price breaks out above the trendline inside the diagonal, it could signal a sell trade to end wave 5 of the diagonal structure.
The target is the wave 5 of the diagonal, then wait for long setup trades.
It is important to note that this is just a trading idea. There is no guarantee that the price will break out of the diagonal and continue to rise. Always do your own research and risk management before entering any trade.
The target is the wave 5 of the diagonal, then wait for long setup trades.
It is important to note that this is just a trading idea. There is no guarantee that the price will break out of the diagonal and continue to rise. Always do your own research and risk management before entering any trade.