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Constellation 1976's  Instablog

Discretionary Trader Speculating in FX and Commodity Futures.
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Constellation 1976
  • USD Index (NYBOT:DX) - Double Bottom is a Fact now! 0 comments
    Nov 12, 2009 05:34 PM | about stocks: ERO
    Two days ago the brief breach below 75 level resembled a breakout attempt. I expressed an opinion that we might actually have a Shot-Term Double Bottom pattern forming in progress.
     
    It seems it is not that easy to have a sustained breakout and to my observations lately we more often witness violent whipsaws following the fake breaks. No need to mention the Pound Sterling as one of the most violent ones.
     
    Any way, I am kinda happy and intellectually satisfied by realizing the potential reversal. I will continue to monitor the developments as the USD down trend has been quite orderly maintained and the Volatility has been really low so it is highly possible we see some bigger moves in the very near future.
     
    Stocks: ERO
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