Hi Mates, Doing weekly review on Dxy for trade posssibilities in coming sessions, So it Opened at 105.296 and after made weekly low of 104.665 and after made a weekly high of 105.782, the low was higher from previous week's low and the high was also higher from previous week's high, which indicates that price is giving initial indications of uptrend resusmption because price is following the same pattern from last some weeks.
So we got a weekly range of 104.665 (week low) to 105.782 (week high) and closed higher then last two swing tops resistance too and this is indicating that price can move higher in coming week too. So i am sharing Trade idea on the basis of this collevtive data which included weekly high low and some some consolidations in channel which i marked on provide chart in this publication.
Bullish scene- It can break weekly high resistance directly and can do marked target above after weekly high resistance break. (in this process we can see also that price will come down and got a support bounce from channel support in which it is currently trading, i will consider that price will go in positive direction till it will sustain above this channel support which is 105.289 levels).
Bearish scene- Can break channel support (105.289) and can do mention target below on chart after this channel support break.
trades mentioned above i will do on above or below hourly candle close basis, one can use own time frame for tracking this idea.
Weekly chart is improving-:
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
So we got a weekly range of 104.665 (week low) to 105.782 (week high) and closed higher then last two swing tops resistance too and this is indicating that price can move higher in coming week too. So i am sharing Trade idea on the basis of this collevtive data which included weekly high low and some some consolidations in channel which i marked on provide chart in this publication.
Bullish scene- It can break weekly high resistance directly and can do marked target above after weekly high resistance break. (in this process we can see also that price will come down and got a support bounce from channel support in which it is currently trading, i will consider that price will go in positive direction till it will sustain above this channel support which is 105.289 levels).
Bearish scene- Can break channel support (105.289) and can do mention target below on chart after this channel support break.
trades mentioned above i will do on above or below hourly candle close basis, one can use own time frame for tracking this idea.
Weekly chart is improving-:
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Comment:
Formed a triangle inside in parallel channel, Can touch upper or lower band of channel after any trendline break of triangle
Comment:
Almost there mates, Reached very close to channel resistance after breaking triangle resistance check update above. I assume that today i will play only in current channel range
Comment:
Both above targets complete after a break of weekly high and channel resistance, Not closing this trade under target tag beacuse it is just first day of this week and many trades possibilties can come after this breakout, So now concentrating on weekly chart that i shared in idea description. Will update idea if i will go something new execution in it
Comment:
Price moving towards mention resistance targets on weekly chart snapshot which i attached in description, Supports shifting to higher levels after this bullish move by it
Trade closed: target reached:
Target complete according above mention updates and by the levels provided chart
