💸U.S.Dollar Index, 1792 to date

2 May 2023

●● Preferred count
◉ U.S. Dollar Currency Index (DXY), 🕐TF: 1M

Fig.1

The counting of long-term waves has not changed. I still think that there is still a possibility of a correction to the area of the previous wave (IV). On the other hand, of course, it should be understood that the fourth waves in most cases form lateral corrections with an overlap and do not always reach the area of the previous fourth. And is it a wave ((IV)) at all? I am sure that as the structure develops at lower time intervals, hints will appear and the least likely scenarios will be cut off.

_______________________________________
◉ DXY, 🕐TF: 1W

Fig.2

In the meantime, we can make an assumption that the wave structure of wave c becomes more complicated to a double zigzag with a triangle in the sub-wave Ⓧ, but the combination and the flat are also not excluded.
On the six-hour chart, the sub-wave Ⓧ in the form of a flat will be marked in black.
_______________________________________
◉ DXY, 🕐TF: 1D

Fig.3

We were able to predict the completion of wave (B) and the subsequent reversal in wave (C) with high accuracy.
Wave (C) is expected to take the form of a single zigzag subdividing into diagonal A and impulse C. The target may be the lower boundary of the ascending channel.

_______________________________________
◉ DXY,🕐TF: 6h

Fig.4

For you, my dear readers, I can suggest a few trading setups that will appear in the near future:
The completion of diagonal A is a signal in favor of fixing a short position. Aggressive trading setup for opening a long position with a protective stop loss at the level ((v))>((iii)).
The completion of the subsequent wave B (preferably in the form of a triangle) is a trading setup for opening a short position.
_______________________________________
_______________________________________
●● Alternative count
◉ DXY,🕐TF: 1W

Fig.5

The option of counting wave Ⓧ in the form of a flat (color marking) we have already discussed earlier. On this chart, it would be more correct to focus on an alternative marking, which suggests considering wave (b) of the supercycle degree from the position of the completed running flat a-b-c, in which wave c is an impulse ①-②-③-④-⑤. A confident breakdown of the upward channel down can serve as a good signal in favor of this hypothesis.

______________________________________________
📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️⬇️⬇️