DXY: Bat Complete. But Does That Mean Its Time To BUY?

31 jul 2017

Those that truly understand price action would not be calling for a BUY here. If someone is telling you price action is bullish, they do not really understand price action! Yes, prices have fallen and they have fallen as I had predicted they would to complete the Bat and head towards a nice support zone. But this is still a pretty strong drop that unfolded in 5 waves and I would definitely NOT go against it until there is TRUE bullish price action! You need to see prices actually head up FIRST and then DROP back down without making new lows before you can say there is BULLISH price action! Not simply look at 2 hourly candles and call that bullish price action! Do that and you will pay for that mistake!

For now, I suspect that prices will continue to drop and test the PRZ of this completed Bat. Do I think that we will see some kind of reversal/retracement? Yes. But when it will do that? Well, I'll be waiting and watching as always and giving updates daily to those that trust and follow me. Or else you can just guess.....