This is the second post I have ever posted on TradingView.
I will make this shorter version of the second one and talk more of the future instead of what I have already analysed and happened in the past. I will use the features of TradingView to test out my accuracy.
For USD index, I usually use it for reference in knowing what I could do with trading major currency pairs.
As for many months, the price on TradingView may a bit different to the platform I am using, though, I have redrawn the resistance level as for shown on the current TradingView graph.
With the support of the signals given by the k line, I have found one of the resistance at 98.00 on the graph, this resistance level I have chosen, represents that if the trend goes to approx. 98.00 and can see of a weakening sign signal near there. I believe that the result will be the USD index will get weaken over there and go back down again to test the bottom.
Another line I have drawn on the graph 98.55, represents the resistance level, if the trend goes pass this spot. No matter if the direction goes in favour of me or not. I will not continue to trade in favour of the USD going weaker. Instead I will turn my mind, and double check on the major currency pairs with the K Line signals to see an opportunity of an entry position with a long position if it surpass 98.55. If not, then I will continuing analyse each short trades or long trades.
As a long trend, I believe that with the price on TradingView, if it does not break the resistance level at 98.55, a long term downward trend will occur in the year of 2020~2021
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market in going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.
I will make this shorter version of the second one and talk more of the future instead of what I have already analysed and happened in the past. I will use the features of TradingView to test out my accuracy.
For USD index, I usually use it for reference in knowing what I could do with trading major currency pairs.
As for many months, the price on TradingView may a bit different to the platform I am using, though, I have redrawn the resistance level as for shown on the current TradingView graph.
With the support of the signals given by the k line, I have found one of the resistance at 98.00 on the graph, this resistance level I have chosen, represents that if the trend goes to approx. 98.00 and can see of a weakening sign signal near there. I believe that the result will be the USD index will get weaken over there and go back down again to test the bottom.
Another line I have drawn on the graph 98.55, represents the resistance level, if the trend goes pass this spot. No matter if the direction goes in favour of me or not. I will not continue to trade in favour of the USD going weaker. Instead I will turn my mind, and double check on the major currency pairs with the K Line signals to see an opportunity of an entry position with a long position if it surpass 98.55. If not, then I will continuing analyse each short trades or long trades.
As a long trend, I believe that with the price on TradingView, if it does not break the resistance level at 98.55, a long term downward trend will occur in the year of 2020~2021
Disclaimer: ALuoTradingJournal does not provide any personal advice or general advice. This is only a journal to keep ALuo in noting the trades and what the market in going on as a trading journal. ALuo will not take any responsibility for any profits or losses. Please trade at own risk.
