Hi Mates, Doing weekly review on Dxy for trade posssibilities in coming sessions, So it Opened at 104.187 and after made weekly high of 104.355 then gives an down movement and took support at 102.936 which was almost equal to previous week low.
So we got a weekly range of 104.187 (week high) to 102.936 (week low) almost a same range compared to last week.
Trade Ideas-:
Bullish scene- It can break weekly high resistance directly and can do mention target on chart after resistance break.
Bearish scene- Can break main support and can do mention target on chart after main support break.
Above both idea i will plan to trade above or below daily candle close.
Trade Ideas based on rejection or bounce -:
ideal for those who trade scalping or samll targets.
Bearish scene- That price will reject again from weekly high resistance and will come down to parallel channel in which it consolidated some time and will break channel support and can do mentioned targets below.
Support bounce- We can see a bounce too from channel resistance can act support now and after can go again to weekly high resistance.
Above both idea i will plan to trade above or below hourly candle close.
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 104.187 (week high) to 102.936 (week low) almost a same range compared to last week.
Trade Ideas-:
Bullish scene- It can break weekly high resistance directly and can do mention target on chart after resistance break.
Bearish scene- Can break main support and can do mention target on chart after main support break.
Above both idea i will plan to trade above or below daily candle close.
Trade Ideas based on rejection or bounce -:
ideal for those who trade scalping or samll targets.
Bearish scene- That price will reject again from weekly high resistance and will come down to parallel channel in which it consolidated some time and will break channel support and can do mentioned targets below.
Support bounce- We can see a bounce too from channel resistance can act support now and after can go again to weekly high resistance.
Above both idea i will plan to trade above or below hourly candle close.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Comment:
Inside made a triangle with rising support on smaller timeframe, checkout if any trendline of triangle will break can touch weekly high or mention support below. Seems a very range bound play today so far
Comment:
After a breakout of inside triangle resistance break weekly high too as mentioned in update above, Was good for scalping.
Comment:
Almost hit the target two friends after mentioned resistance break, reached 104.907 target was 104.925 full target missed by 0.018 points. Still got good gains entred early after the breakout of inside triangle resistance and complete the ride
Trade closed: target reached:
Target Update-:
All long side targets complete after resistance break
All long side targets complete after resistance break
