Comments on: Technician’s Edge: Key Trendline Breaks in US Dollar Index

By: Hewison Updates us with Videos of the Dollar, Gold, and Crude Dec 17 | Penny Stock Trading System Blog

Thu, 17 Dec 2009 20:10:46 +0000

[...] Gold Prices Hint at Correction A Look at Gold Prices Year to Date in 2009 Key Trendline Breaks in US Dollar Index Broken Andrews Pitchfork Grid on Crude [...]

By: Bob

Bob — Fri, 11 Dec 2009 18:25:14 +0000

This turn of events seems most significant. The completion of a fifth of fifth wave structure (http://blog.afraidtotrade.com/bullish-elliott-w...)
coinciding with a dominant trendline break. Hmmm. Might be interesting to consider how the Andrews Pitchfork grid is playing out too… (http://blog.afraidtotrade.com/andrews-pitchfork...)

The 50 EMA is now acting as support, but often price will retrace down retest the old trend line(s) before a more substantial rally gains traction. These trendlines add two more clear levels of support which price may bounce off if a retracement down occurs.

It's worth watching this closely; almost everything is tied to the US Dollar and moving in concert of late.

By: Bob

Bob — Fri, 11 Dec 2009 12:25:14 +0000

This turn of events seems most significant. The completion of a fifth of fifth wave structure coinciding with a dominant trendline break. Hmmm.

The 50 EMA is now acting as support, but often price will retrace down retest the old trend line(s) before a more substantial rally gains traction. These trendlines add two more clear levels of support which price may bounce off if a retracement down occurs.

It's worth watching this closely; almost everything is tied to the US Dollar and moving in concert of late.