Action reaction charting: DXY macro

DXY is at a critical point

And what DXY does next will effect everything

Here we use action reaction charting as developed by Dr Alan Andrews to see why this is a critical moment for markets and the dollar

The Andrews pitchfork uses three major pivots ABC, and forms a median line from A to bisect B and C

80% of the time price returns to median line

Here i have taken the last 4 pivots on the monthly chart ABCD

I have an Andrews fork (PINK) on the ABC pivots

And a modified Schiff fork on the BCD pivots (BLUE)

We can see for the last three months price is trying to break up into the upper right quandrant formed by the two forks, if it fails it will fall into the lower right quandrant

The apex of each gives us price targets of 103 and 89

I believe it will break up

TRADE AT YOUR OWN RISK

GRI 2022

Yorum:

Andrews fork off ABC

Yorum:

Modified Schiff off BCD