Friday, April 14, 2017 4:30:36 PM
I know that this is probably an unlikely event, but on the Monthly charts, how would you label the eliott wave? Is this a remote possibility if the dollar catches a bid? I was reading up on the simple EW rules and just being curious I tried to plot it out on the monthly chart and it seemed pretty interesting.
The dollar can fall to about 98-98.50 before it would start to break a trend line or support.
If this were to play out, it could be about another year before a correction occurs. This is all IMHO and just a what if we looked at the charts and forgot about all the stuff going on which I know will throw things out of wack. But so far things aren't totally out of wack when looking at the long term charts.
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