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The Dollar: Wave Counts Of Horrorcaptainewave Sep 1, 2024 After wave -d- ends we still expect to move higher again in wave -e-, which cannot exceed the wave -c- high of 106.38, for the current triangle formation to still be valid. After wave -e- and our bearish wave b triangle ends, we expect a sharp drop lower in wave c. We will update our projected endpoint for wave c, after wave b ends. In our last Weekly Post, we provided a very bearish alternate count for the USDX, that we will adopt if our current wave b bearish triangle option gets eliminated, with a trade below the 100.31 low! Note that a dollar sell-off fits perfectly… with our higher price targets for gold! Active Positions: Short risking to 107.10!
An imminent collapse in rates, which we are projecting, would accompany a meltdown in growth and perhaps in the stock market too! Here’s our current take on the matter: The US 10-year Bond Yield has completed wave i at the 5.021% high and we are correcting that 5-wave impulsive sequence within wave ii, which has the following retracement levels: It also looks like wave !iii! has not completed a 5-wave impulsive sequence at the 3.669% low. After wave !iii! ends we expect a wave !iv! rally that retraces between 23.6 to 38.2% of the entire wave !iii! drop. Lower rates are very positive for gold. Active Positions: Short risking to 5.050%! If that is the case then we are starting to rally in wave ^iii^, which has a new updated projected endpoint of: !v! = 1.618(2431.50-1973.10) = 3035.50. Our updated projected target for the end of wave -iii- is: Thank-you! 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