- A possible pattern formation on DI.
- The possibility suggests lower DI in coming weeks.
- For that we need a clear BD from the B-D TL shown on the chart.
- If we do get a break then the first target is in the vicinity of 78 odd levels, and below that we should find support around 76 odd levels.
- But the break of the B-D TL is essential.
- The only hitch is the current down leg has already taken more time than preceeding up leg, a sign of market with an upward bias.
Tuesday, August 27, 2013
Dollar Index - Elliott Wave Update
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# Dollar Index
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Dean is a fulltime trader for last 13 years. He is passionate about technical analysis. His instruments of choice are Nifty and banknifty futures and options. His main analysis and trading tools include advanced techniques like Market Profile, Voilume Spread Analysis and Order FLow Analysis. Dean is a teacher at heart and loves sharing his learnings with committed traders. You can check out his courses here...
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