Sep 18, 2022
The structure is intact since the last updates.
DXY remains within a range, but we have a lot of inefficiency at lower levels to fill.
The macro fundamental path is bullish, but let's focus on price action and only trade what we're seeing.
The H1 structure is RANGE, we have a BOS MAX originated from the bearish movement and a BOS H1 originated from the demand zone.
It is very important to wait for the RANGE to be broken to define a structure (H4 UP H1 UP or H4 UP H1 DOWN). It is very important to wait for the structure to be broken to trade swing trade.
The break of the 110,800 level intensifies the bullish movement forming a full confluence configuration (H4 UP - H1 UP).
The break of the 110,600 level intensifies the downward movement forming a NO-confluence configuration (H4 UP - H1 DOWN).
It is very important to wait for the BOS H1 or BOS MAX to be broken to define any trading plan. RANGE structures are not intended to be traded.
Applying Elliott Waves (Actionable Direction)
Read the previous article to understand the context of the asset: https://www.buymeacoffee.com/fxandressa/dxy-1384506