Updated

DXY — Upward Wedge & Diamond Top — Breakout Trade

Hi Guys,

It's been a long while I don't have much interest to publish. Today, wanna share a Diamond Top.... pretty much in the chart.

If the level is key, and Diamond pattern formed at top or bottom, it's a reversal pattern.

See how it goes.

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Sorry that I didn't know turning drawing tools visual off will affect published idea.
Now it should show up the entry/sl/pt.

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The touch only makes alert beep, gotta judge if the lower low is firm on H4 close, right now, it's soft and timid approach. Wait for clear breakout and pull back.

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Pending affirmative clear breakout PA; if not, look for 9470 / 9520 for pullback/high-retest.

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As said, breakout is unclear, and now it becomes fake break. Monitor reversal top to sell.

Trade active

Clear Breakout and pullback. Trade Active:
Short DXY @ 94.40/94.45 equivalent Long EURUSD @ 1.1680/1.1685

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I have decided to look at the EURUSD,D at a sideway consolidation stage, ranging 1.1550 ~ 1.1800; notice when the diamond/converging triangle end, there's doji formed near 20ema, and the last few candles with bottom lifted upward. All are traits for squeezing upward. Opening position in the middle of sideway is not the best entry, but hope these traits give us a good backup.

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Update for this idea is done. With SL/PT each at 100pips apart, let it roll and the market will close this position.

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This trade only consumed about 8~10pips of SL zone.... heading 1% PT target at 1.1790. 30 pips to go....

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PT1 @ 1.1790 reached; waiting pullback to sub wave (iv), see below, to ride to 1.1900 as PT2.

gcplau

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gcplau