Hey everyone
Hope you guys are good here's a look at the DOLLAR INDEX from the 4H chart, the index rallied down and failed to break support level 90.459 ranged just above this level currently trading in a more so descending channel now waiting for a breakout of this structure for intra-day set ups perfect to trade the top & bottoms of this structure on lower Time-frames but if you want to hold this one a break out in either direction could be a perfect opportunity to enter the trade once you have confirmed all your rules.
Now i will be looking for long entries on this one looking for a retracement to complete the "W" formation before we see some continuation on the index. level 91.75 is the structure just between the 50% FIB & 61.8 % FIB LEVEL which will be the target should we break above.
a break below changes the whole trading plan.
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
HAVE A GOOD ONE!
Hope you guys are good here's a look at the DOLLAR INDEX from the 4H chart, the index rallied down and failed to break support level 90.459 ranged just above this level currently trading in a more so descending channel now waiting for a breakout of this structure for intra-day set ups perfect to trade the top & bottoms of this structure on lower Time-frames but if you want to hold this one a break out in either direction could be a perfect opportunity to enter the trade once you have confirmed all your rules.
Now i will be looking for long entries on this one looking for a retracement to complete the "W" formation before we see some continuation on the index. level 91.75 is the structure just between the 50% FIB & 61.8 % FIB LEVEL which will be the target should we break above.
a break below changes the whole trading plan.
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
HAVE A GOOD ONE!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.