Pattern recognition: Ending Diagonal Triangle.

٢٩ يوليو ٢٠٢١

The recent price action of the US Dollar Index (DXY) appears to me to be a excellent example of what in EWT is called an Ending Diagonal Triangle. In EWT normally the 5th wave is composed of 5 sub-waves that do not overlap. (Which in this example I have labeled .1,.2,.3,.4,.5). But in this type of ascending triangle formation they do overlap and each sub-wave often has an a-b-c appearance i.e. composed of 3 waves.

For more information see the pattern expert Thomas Bulkoski:

thepatternsite.com/EWDiagTriangle.html