Hi Alex, nice article. Probably turn out be closer to reality than many might imagine. I think that since we topped in 2008 we have a potential leading diagonal (with Elliottwave structure defined as 3-3-3-3-3 in which every swings are series of 3) in development as shown on my chart. If this holds true, then we are not going to see price above much above $60 for a decade or more. Here is the link to my chart with the details - https://www.tradingview.com/x/3ba6tcZ9/
Thankyou for your reply. As I have commented above it seems that commencement of data for the ETF on both my charts is from July 2014 where as the ETF commenced in Dec 2013. So the fib retracement I mentioned is wrong. But also there is some difference in other data as I explained which do not quite line up with your observation.
Regardless I am anticipating a partial retracement from here before reverting to downside.
The only thing I note is that the ETF has been running since 2013 and data on both my charts only starts from 2014. So based on that the Fib retracement I am showing on my charts are in correct. Where as the Author’s chart shows earlier data from lows in $21 region. So that is the discrepancy. Still both charts of same instruments look different which is puzzling
Well I was hoping too, but it seems that the Author do not have the time for these questions to be answered directly.
It might just be something about the Data Feed or charting programme. But for what it’s worth here is a link to snapshot of the same instrument from Freestockchart.com which seems very similar to my chart from Tradingview in above comments.
Hi, Thankyou for sharing your chart analysis on USD. I am keenly interested in deciphering DXY so took a detailed look in to your idea in this article. I have never before checked this particular instrument (EFT), however, I think (unless I am missing something) there is possible data issue from Stockchart.com.
I have checked this chart with Freestockchart.com and Tradingview, and feel that Stockchart.com appears to be the odd one out and seems to give different perspective than the other 2. For comparison here is the Tradingview snapshot of weekly chart - https://www.tradingview.com/x/jb214mqF/
It does not seem to have the same feel in structure and comparative H&S patterns you have show on your chart. From my perspective we have close to 78.6% retracement of the May 2014 low to Dec 2015 high which appear to have abc decline possibly completing in May 2016 low. If so then retracement bounce could be in progress and wave b low (magenta) should form above 25.5 with wave c (magenta) developing with 27 zone as possible target.
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Hi Alex, nice article. Probably turn out be closer to reality than many might imagine. I think that since we topped in 2008 we have a potential leading diagonal (with Elliottwave structure defined as 3-3-3-3-3 in which every swings are series of 3) in development as shown on my chart. If this holds true, then we are not going to see price above much above $60 for a decade or more. Here is the link to my chart with the details - https://www.tradingview.com/x/3ba6tcZ9/
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USDU - An Important Perspective On The US Dollar
Thankyou for your reply. As I have commented above it seems that commencement of data for the ETF on both my charts is from July 2014 where as the ETF commenced in Dec 2013. So the fib retracement I mentioned is wrong. But also there is some difference in other data as I explained which do not quite line up with your observation.
Regardless I am anticipating a partial retracement from here before reverting to downside.
Thanks again.
USDU - An Important Perspective On The US Dollar
The only thing I note is that the ETF has been running since 2013 and data on both my charts only starts from 2014. So based on that the Fib retracement I am showing on my charts are in correct. Where as the Author’s chart shows earlier data from lows in $21 region. So that is the discrepancy. Still both charts of same instruments look different which is puzzling
USDU - An Important Perspective On The US Dollar
Well I was hoping too, but it seems that the Author do not have the time for these questions to be answered directly.
It might just be something about the Data Feed or charting programme. But for what it’s worth here is a link to snapshot of the same instrument from Freestockchart.com which seems very similar to my chart from Tradingview in above comments.
http://www.screencast.com/t/oOJcBr180G
July 2014 low around 24.50 Approx and high Dec 2015 is around 29.4 = approx 4.9
4.9 * 78.6% = 3.85 Therefore $25.4 – $3.85 = $25.55 which is 6th May 2016 low so it has retraced 78.6% as shown in both my charts.
But may be best we leave it here.
USDU - An Important Perspective On The US Dollar
Thankyou for your reply. Will be sure not to bother him again.
USDU - An Important Perspective On The US Dollar
Hi, Thankyou for sharing your chart analysis on USD. I am keenly interested in deciphering DXY so took a detailed look in to your idea in this article. I have never before checked this particular instrument (EFT), however, I think (unless I am missing something) there is possible data issue from Stockchart.com.
I have checked this chart with Freestockchart.com and Tradingview, and feel that Stockchart.com appears to be the odd one out and seems to give different perspective than the other 2. For comparison here is the Tradingview snapshot of weekly chart - https://www.tradingview.com/x/jb214mqF/
It does not seem to have the same feel in structure and comparative H&S patterns you have show on your chart. From my perspective we have close to 78.6% retracement of the May 2014 low to Dec 2015 high which appear to have abc decline possibly completing in May 2016 low. If so then retracement bounce could be in progress and wave b low (magenta) should form above 25.5 with wave c (magenta) developing with 27 zone as possible target.
Would be interested in your feed back. Thanks.