Elliott Wave 5.0 "Reboot"

Thursday, March 10, 2016

US Dollar Intraday Violent Swing Review: Crash And Burn?

Many of those Perma gold bulls always talks about how the US dollar is  going to crash and burn sending gold to the moon once again.  We just had a very small example of this as the violent swing north followed by a violent swing to the south.  What if this was just a correction and the US dollar heads north one more time? 

Again, this is where one has to be good in catching a falling knife to take advantage of any Elliott Wave trading. 

We could also be on a 5th wave diagonal where the US dollar still needs to clear the 100 price level. 

I see this move as a potential "ABC" crash so a complete retracement would work just great.  At a minimum the 96.800 would confirm we just had an "ABC" crash.