Looking at the U.S. Dollar Index that could have potential up-side.
The monthly has been consolidating within an inside range for the past three years and is showing the 2c criteria. However, this 2c criteria doesn't have the strong trend aspect I would prefer to see with this setup.
The weekly has the 3d criteria which I like to see with the higher time frame 2c-2d. So, we're looking for a breakout of the overhead trend line.
With a 3d criteria the resistance we need to overcome is usually the 3a/b criteria that preceded it (the shaded region in the weekly chart (left) below
The weekly 3d criteria had a buy trigger on the Daily on Feb. 6th. It looks like a long above the current highs, but a pullback would be nicer to see (3b-1a criteria)
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
I am always open to questions, comments, or suggestions on how to improve this blog.