23 March 2011

USDX : Big Picture Triangle Break

  • Price action since Mar08 has resulted in a triangle which is now breaking on the downside at 76.22.
  • Triangle widest point in Mar09, top 89.62, bottom 72.53 so downmove measured objective has a length of 17.09.
  • Set against the break point at 76.22, triangle downside objective is 59.13.
  • Plenty to play for here still, even though USDX feels like it has been going down forever. Technically, the sell trade is just beginning a fresh leg. Hang tight to your gold.

1 comment:

Market Strategist said...

I am very impressed with the self-introduction of yourself.

May I know if you are married with children? I asked that because trading for yourself without a full time salary will be risky if you have a family to feed.