Time for Downside Bias? - Throwing it Back to Tuesday 6/27/2017

I created this image 2 trading sessions ago, before the Wednesday bounce of course to highlight a tangible short term target. That target was $240.65 and it was not only breached but it traded below. Now the question for me remains as the market continues moving where to find the interim pullbacks [counter-trend bounces] on its way down to a possible $236.00 base denoted in the green box below.

Next Target

The Vix is by definition complicated so I won't go into any technical analysis on the subject of support or resistance because projections can be hard, but in terms of past reference I believe the 16+ price target is attainable in the not too distant future [3-4 trading sessions] or even Friday June 30th

Trendline Broken

I am apt to think that the sell off velocity will remain at this speed and length for each trading day. the ATR can remain as volatile, like 1.96 to 2.5 point swings.

Thin Bets and Small Losses

I would have lost big time in this EUR/USD short - this 8 hour chart shows what I would have lost if I had a much looser stop. This are could be a nice spot for resistance but it can go higher. Open 1.11819 and close at 1.12128 for a loss of only 30.9 pips. I love the fact that the exchange rate went up 173 pips from base to peak, or is it a peak worth fading?

As above so below

Displayed is a daily chart of the EUR/USD on the daily time frame Current price sits at 1.11808 and I am anticipating a drop here - the dollar index looks ripe for a run higher and in this snapshot you can see the series of lower highs and lower lows. I have adapted the image to include opportunities for both long and short, the zones referenced here favor short term buyers at 1.11338 and 1.11443, the first shaded green zone.

I was suspect of a potential bottom here in the dollar index. The red trendline I drew held for several "tops" and this potential shift in the dollar can be validated through what seems to be a breakout occuring here if the USD closes above the trendline and begins to violate resistance levels.