It seems very evident after the big market "reset" in March 2020 that we have had a complete buy back of all assets. The similarities to 2009 are uncanny across multiple asset classes.
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DXY sequence today
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DXY sequence in 2008-2009 is extremely similar, including the "last opportunity" to short swing for the remainder of the year somewhere around mid-June.
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Nice move here for the H4 candle off Month CAM R3. Minimum target for the type II camarilla trade is back to Month CAM R4, half way there.
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Great start!
We broke out of a descending wedge here, and may need a retracement after striking Weekly Camarilla R4.
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It looks like we are catching a break today with the rest of the markets. There is a breakout backtest of the descending wedge happening now.
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78.6% retracement of recent move up, Day CAM S4, Month CAM R3, and trendline break backtest all at the same location. Added 2 more lots long.
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Nice DXY backtest of Month Camarilla S3 and the 21 Day Highest close. Added to EU longs.
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Hits year CAM R4 target at 1.1600 as gold closes in on the 2011 highs.
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This trade is up 400 pips so far.
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2009 seems to be correlating extremely well
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If history is a lesson we should follow this channel toward the year on DXY
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On average DXY rebounds after a heavy dump into the FED. The late July / early August statement usually triggers a pulback up. I think we can do this for two weeks and retest the March low (now broken) before descending further the remainder of the year.
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