4th Wave Correction almost complete?

TVC:DXY   U.S. Dollar Currency Index
Earlier this month I forecast that we were in a 4th Wave correction of the of a possible A corrective wave. The 4th wave now looks like it could be completing so I'll be looking for a short trade opportunity. The recent push up should correct at least back to the trend line and could break down to start our 5th wave. Of course it can become a more complex correction but we have to play the probabilities game, If I see a short trade set up I'll be in and keep my fingers crossed that we get more than a break even trade.

First Rule of trading - Protect your capital.

I'll update my analysis as price develops so remember to follow to receive them.

Any one trying to learn Elliott Wave Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.

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Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve Nixon
Comment: We are currently getting a breakout of the channel. Be careful this may or may not be the expected short trade giving us wave 5. We could still see a pull back and one more wave up. If you are short on this hold on to your positions if you are not in yet wait for a correction (flag) before trying to enter. With a bit of luck this will be the move down we have been waiting for.


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