Forecast Dollar Index

I don't trade this but I like to watch it as it gives us a lot of information regarding all the major pairs.

Price has been creeping up in what looks like the B wave of a corrective structure.
It could break down before continuing on up so I've set an alarm on the trend line.

From a trading point of view I don't see a long entry but if it breaks south one could present itself

I update forecasts as they develop - remember to follow to receive them.

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

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Looks like a breakout

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Progressing as expected

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Wave principles in action - crystal ball?

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Time to start thinking about "what next" Price has moved as expected for the last month or so but we are reaching a major structure line which means the completion of one move and the set up of the next. I suspect we'll start to see a move up but as always let's wait for the structure to tell us where it's going next.

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Over the past month the only thing I've adjusted is the angle of the C line and nothing else. The adjustment simply represents the fact that we reached this point faster than I initially projected - no bad thing

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Guys this chart is complete for me and I'll draw and new one shortly once I have an idea of where the index is going next. For anyone reading this I want to point out one thing. My analysis is based purely on structure analysis using wave principles. I do not use fundamentals in anyway and I do not trade the news. This chart is over a month old as I write and we've had a US interest rate hike which sent price in the direction of my prediction rather than long as one would expect. The structure tells you what it is going to do next with a high degree of probability. If you learn to read structure you will become a much more successful trader.