US Dollar Index - are we ready for new all time high ?

US Dollar index has recently completed his fall of wave 4 inside the bigger degree wave 3, and now possibly wave 5 has been started of bigger degree wave 3, Inside 5 it has completed wave 1 and wave 2 of 5, and possibly started to unfold smaller degree wave 1 of 3 of 5, now should retrace as wave 2 of 3 of 5, it would be a buying opportunity with invalidation level of 111.9040, One can go long in dip of wave 2, or can go long on breakout above wave 1's high, in both scenarios stop loss could be same as invalidation level 111.9040, which is nothing but low of wave 1, because as per waves principle wave 2 will never retraces 100% of wave 1.In 1 hour time frame RK's Mass psychological cloud is suggesting to go long only, Because it's above cloud, so don't go short.

possible wave counts on 1 hourly chart

possible wave counts on 4 hourly chart

possible wave counts on Daily chart

RK's Mass Psychological cloud in 4 hour

RK's Mass Psychological cloud in 1 hour

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However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...!

Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

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Chart wave counts Updated