Analysis:
I've seen DXY correctively retrace towards a diagonal resistance (trendline).
& It is currently entering into a 2 day reversal zone.
Hypothesis:
I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue.
Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow
Risk Management:
Trade potential 3:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned about shorting against short term bullish momentum.. you can wait for a 4hr bearish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
I've seen DXY correctively retrace towards a diagonal resistance (trendline).
& It is currently entering into a 2 day reversal zone.
Hypothesis:
I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue.
Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow
Risk Management:
Trade potential 3:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned about shorting against short term bullish momentum.. you can wait for a 4hr bearish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
Trade active
This trade is live.
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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.