The rally is shaping up well. Keeping an eye on that 1.06ish level.
Here is the latest Dixie chart:
I view the pull-back on Dixie as ii of 3 with i having an extended 5th wave. “What the heck does that mean you donkey?” It means the retrace will be deep, or what’s known at the 4th of a lessor degree zone. Which, amazingly enough, encompasses the open gap! Fill the gap and Dixie is launching like a rocket. And that, of course, means the Aussie/Buck will plummet.
Good play is go long on Dixie gap fill and bail if it keeps dropping. 75.4 is invalidation point and says I am totally wrong.
(Dixie is the /DX, or USD continuous futures contract. The price is not 1-for-1 to the index.)
Any drop in the A/U has me worried that I’m missing out. Got to be patient.