This may be new to many traders who do not know how to use a Gann square. Those who use the tool will recognize the significance of this chart immediately.
The long term weekly (72 bar) bear setup shows price is now heading straight up to the top of the 1st square. There it will surely find formidable resistance. This alone would suggest that the dollar is just a couple weeks from making a long term top.
But, I then did a bull setup (smaller square, starting in 2011). I have removed all the arcs and lines except the 1st arc, and the 5th arc, to make it easier to see the main point. The bull setup show the price is just weeks away from hitting the 5th arc, at almost exactly the same time price hits the top of the square on the long term chart. The 5th arc is formidable.
Taken together, I can say with a very high degree of confidence, that the dollar will make an exceptionally significant, long term top sometime between Thanksgiving and Christmas.
Happy trading...
The long term weekly (72 bar) bear setup shows price is now heading straight up to the top of the 1st square. There it will surely find formidable resistance. This alone would suggest that the dollar is just a couple weeks from making a long term top.
But, I then did a bull setup (smaller square, starting in 2011). I have removed all the arcs and lines except the 1st arc, and the 5th arc, to make it easier to see the main point. The bull setup show the price is just weeks away from hitting the 5th arc, at almost exactly the same time price hits the top of the square on the long term chart. The 5th arc is formidable.
Taken together, I can say with a very high degree of confidence, that the dollar will make an exceptionally significant, long term top sometime between Thanksgiving and Christmas.
Happy trading...