DXY | The Structure Is Developing, but Which Path Is It Taking? US Dollar Index CashEIGHTCAP:USDXMehdi_Abbasi_EWPReading time: ~3 minutes In this latest update of the DXY 4-hour chart, my previous structural view remains valid. However, the current price action raises the possibility that we may be developing a Leading Diagonal. At this stage, I don't want to treat the structure as confirmed. I'd rather let the next price movements reveal more pieces of the puzzle. 🟦 Bullish Case | A Nested Structure In the bullish scenario, if the current advance develops into a motive structure rather than a corrective one, we can examine the possibility of nested 1–2 sequences, followed by another 1–2 at lower degrees. Such a structure could set the stage for an extended Wave 3. If confirmed, this move could potentially carry price toward the 105.13 area. But here's the important point: several upward movements alone are not enough to validate this count. The internal wave structure, proportional relationships, and the way price breaks out of the current range must all support this interpretation. ⬛ Alternative Case | A Leading Diagonal Followed by a Correction Another possibility is that the current advance is forming a Leading Diagonal. In that case, once the five-wave structure is complete, we would expect a corrective move. This correction could take different forms, and its depth would depend on the wave degree and the larger structure in which the diagonal develops. Under this scenario, the current advance would not necessarily signal the beginning of a strong, sustained bullish trend. It could simply represent the first part of a larger corrective structure. 🧩 The Key Difference in My Approach In a nested structure, successive first and second waves at lower degrees can create the foundation for an extended third wave at a higher degree. By contrast, if the market is forming a Leading Diagonal, we should examine the correction that follows its completion and determine its degree and relationship to the larger structure. The difference is not just about the shape of the waves. It's about their position within the larger structure. For now, I am keeping both possibilities open. The next price movements and the quality of their internal structure will help determine which scenario is better supported by the evidence. I'm not trying to prove my previous count right. I'm trying to understand the structure the market is building. Structure First. Scenario Second. Patterns whisper. I listen. — Mr. Nobody Dollar Index 5 days ago DXY | When the Market Builds the Puzzle Itself