Learning to read Price Action with P&F Charting

dollar index short term roadmap
an important chart
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the price action of the dollar index recently coincides with a succession of bull traps../ blue elipses

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thinking that it is easier to sell the rallies in the indices...just an opinion
 
SPY *is* at resistance, but if it does a double top breakout there's a series of higher lows to support the case for a short term rally.

Next resistance would be 110.7, giving about a 1:1 trade.
 
uup chart with supporta areas and vertical counts

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blue lines are rising supports
green re vertical count targets
there is only one downside count still standing.this will get taken out if 23.80 is broken.
two of the upside vertical counts are off the chart
dollar started getting bullish on thanks giving weekend.nd of november.dubai started it off
basically...dollar up/stocks down
just an opinion
 
steve.i understand youre raesoning of rising lows
see this chart.all i am saying is beware.the uup is a very bullish chart and that is calling the shots

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another strategy,which might be safer is to short the rallies,buy the oversold and scalp the bounces off major supports
just my opinion
dont forget,the last few upmoves have been bull traps.
 
a possible breakout point looming on uup.it could fail at this point.however rising lows present,could go back and wait, a possible triple -top then looming.too early to tell.lets see
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