Hi Mates, Doing weekly review on Dxy for trade posssibilities in coming sessions, So it Opened at 106.174 and after made weekly high of 107.348 and after made a weekly low of 105.952, 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 105.952 (week low) to 107.348 (week high) and closed higher then last two swing tops resistance which i mentioned in last week review's 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 will break mentioned resistance (106.177) after weekly low directly and can do targets above
Target 1- 106.500 (support of long consolidation channel)
Target 2- 106.975 (resistance of long consolidation channel)
Target 3- Last week high
Bearish scene- Can break mentioned weekly low and can do marked target below on chart after this support break.
Rest i will update idea accordingly if any new trading opportunity will be available there.
trades mentioned above i will do on above or below hourly candle close basis, one can use own time frame for tracking this idea.
Daily chart Bullish view-:
So we got a weekly range of 105.952 (week low) to 107.348 (week high) and closed higher then last two swing tops resistance which i mentioned in last week review's 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 will break mentioned resistance (106.177) after weekly low directly and can do targets above
Target 1- 106.500 (support of long consolidation channel)
Target 2- 106.975 (resistance of long consolidation channel)
Target 3- Last week high
Bearish scene- Can break mentioned weekly low and can do marked target below on chart after this support break.
Rest i will update idea accordingly if any new trading opportunity will be available there.
trades mentioned above i will do on above or below hourly candle close basis, one can use own time frame for tracking this idea.
Daily chart Bullish view-:
Comment:
Trying to sustain above resistance and that resistance acting as a support for price now
Comment:
Target Update-:
Target one complete after resistance break, Check update above and description mates
Target one complete after resistance break, Check update above and description mates
Comment:
After completed target one price took resistance there and now came down i assume now it can take support again from weekly low mentioned are and can do the same target again mates and if close below weekly lo can do below marked targets too
Comment:
Target update-:
Touched excat marked support target one after breaking weekly low, check update above
Touched excat marked support target one after breaking weekly low, check update above
Comment:
Well i must say that it respected the marked levels on chart, Got a bounce from support based sell target 1 and now doing target 106.500 (support of long consolidation channel) and now taking resistance again from there for better view please check updates and idea description too mate
Trade closed: target reached:
Target complete according above mention updates and by the levels provided chart
