A possible bear trap is developing on the US Dollar. It is possible to spot these traps applying the Elliott Wave theory to charts. Finding context is vital to understand the market cycles. Once a strong foundation for a value area has been found, the next step is to validate the trading idea and risk-reward analysis; if the ratio is right, we got a green light to pull the trigger.
This week EUR/USD, DX, GOLD, and SPX500 are showing impressive Elliott Waves. Find all the details in the weekly video.
Would you like to receive our daily Elliott Wave analysis? Start your 30-day trial today: https://elliottwavestreet.com/membership/