Here a just a few options I'm watching as the week starts.
It should be noted that the dollar futures, weekly, ended on a bullish MACD cross last week. The wave 4 of a new impulse down was ruled out once 80.17 was crossed.
Should the inverse relationship of the dollar to equities continue, then this may support the minute [b] triangle option below. Should the dollar and equities rally in tandem, options 1a and b may provide some guidance as to how this will occur.
OPTION 1a
OPTION 1b
OPTION 1cI like option 1c. It plays off the first five waves up off minute [a] and would fool pattern followers who think a bearish flag is forming. Will definitely keep an eye on this one.
MINUTE [b] TRIANGLE OPTION
/DX WEEKLYIt is possible the dollar may be in corrective mode going up. Here I have labeled it as an abc bounce but may also label it 1-2-3. The corrective option implies that this may be an X wave bounce. We shall see though since there is a weekly bull cross and a potential inverted head and shoulders formation potentially setting up.
