Looking like it may form upside down H&S on USDX, something to watch out for as Ata pointed out on his daily chart that EURUSD due to drop back to the engulfing candle opening price from Monday at some point.

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This was my chart for USDX this morning. Once that 3am candle closed, I switched over to EURUSD and dropped down to 5 minutes and took the trade at 4:10. Sold out for 13 pips.

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Wyckoff Accumulation Phase - Met the previous selling climax, then dropped to the next lowest low for a spring...resulted in a lot of stop losses getting met.

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Looking like an upside down H&S on the 30 min chart.

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Maybe if you weren't being a d@#k about everything he might have answered your questions. Not everyone has to explain to you their methods. You talk to everyone this way when you don't get your way. Kind of like a grown toddler. It's why I've ...

The Most Important Task Is To Find The Correct Direction

I've seen your posts on the EURUSD thread with this indicator being part of your analysis. I really appreciate you posting this.

The Most Important Task Is To Find The Correct Direction

Speaking of divergences, the daily chart has two of them going currently. Yesterday's candle was a rejection candle, and today's is headed that direction currently. Food for thought.

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Yeah, major rejection. Kind of like my last girlfriend

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[quote=HusainAbbas;15246334] I mean its little out of sync as its breaching resistance on H4 and EURUSD is slow to react I didnt want to mention USDCAD there as per Thread rules however it is exactly what I was pointing out. USDCAD is steaming ...

EURUSD only

I mean that's as in sync as it gets... And I'm not saying that you are wrong about the potential direction, but USDX had a major rejection on the 4H chart and is pushing upwards. USDCAD following suit. EURUSD and AUDUSD now pushing downward in sync ...

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I'm going out on a limb to say third strike off that line drops for a couple hundred. You gotta prime the selling conditions by overbuying before the drop.

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Cup and Handle maybe???

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My theory on the next move: So H&S and the Three Drives are essentially the same move here. You are going to get a spike on the backside of this structure resulting in a sharp drop over 3 to 5 days. I believe we will touch that trendline one more ...

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lol...the banking gods have spoken and we are headed right back down. Thanks shark!

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I mean momentum plus trendline equaled payday...

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On what timeframe? What broker?

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Weekly RSI is in strong oversold conditions. Regardless of your take on how strong the dollar is or how weak the Euro is, this is going to correct itself in the next few weeks, possibly starting tomorrow. Based on current market conditions I'm ...

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If you look at that move on the 5 minute time frame, it's a shake out attempt to get buyers to panic and sell off their long positions. The area of support held up though.

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lol...the Euro fighting all this red.

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