Hello traders, Dollar Index in 1 Hour Timeframe, this analysis has been prepared in 1 hour time frame but has been published for a better view in 2 hour time frame.
According to the side mode created for the price, we conclude that wave 3 is over and now wave 4 is forming.
In the previous analysis, the two areas were surrounded by Fibo 0.618.
In the first possibility, for wave 4, we considered a correction triangle that we are at the end of, and I guess after the lower side of the triangle is broken, it will continue its downward trend and end at the targets of wave 5 in Fibo, 0.618 or 0.50. The areas are exactly at the bottom of our pink channel.
And in the next possibility, the price will break the ceiling of the black channel and the triangle until Fibo moves 0.50 to complete the 4th wave.
If the price enters the wave 1 range, this analysis will be fielded.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
According to the side mode created for the price, we conclude that wave 3 is over and now wave 4 is forming.
In the previous analysis, the two areas were surrounded by Fibo 0.618.
In the first possibility, for wave 4, we considered a correction triangle that we are at the end of, and I guess after the lower side of the triangle is broken, it will continue its downward trend and end at the targets of wave 5 in Fibo, 0.618 or 0.50. The areas are exactly at the bottom of our pink channel.
And in the next possibility, the price will break the ceiling of the black channel and the triangle until Fibo moves 0.50 to complete the 4th wave.
If the price enters the wave 1 range, this analysis will be fielded.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️