Short term top or long term break?
=> Here we can see the DXY resting at resistance whilst starting a corrective process in August
=> So far we can see from a wave perspective what looks like an A and B leg of an incomplete ABC which can retrace as far as 93.42
=> The risk to our thesis is that a break above here will put the question on the table as to whether we have already resumed the underlying uptrend ....
=> In simple words its very difficult to fade the move here as ultimately we remain in an uptrend ... levels are crystal clear by now for all those following in the telegram.
=> We need a break below 95.5 for confidence that we have seen a short-term top in play....
=> Otherwise to the upside we can start adding exposure to longs above 97.23 with confidence on a break.
=> So far we can see from a wave perspective what looks like an A and B leg of an incomplete ABC which can retrace as far as 93.42
=> The risk to our thesis is that a break above here will put the question on the table as to whether we have already resumed the underlying uptrend ....
=> In simple words its very difficult to fade the move here as ultimately we remain in an uptrend ... levels are crystal clear by now for all those following in the telegram.
=> We need a break below 95.5 for confidence that we have seen a short-term top in play....
=> Otherwise to the upside we can start adding exposure to longs above 97.23 with confidence on a break.
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