Disclaimer: I will reserve my right to draw a STEEPER channel to the upside IF the price does demand it later on but I prefer to err on the side of caution with a much less steep angle of the slope. The move started from a very important support so it can be A LOT more powerful and will demand bigger angle to the upside. We will see.
Okay , so DXY confirmed that this was in fact a reversal. Now the Blue Channel is a POTENTIAL next channel for the price of the Dollar - THE SUPPORT SHOULD HOLD AT ALL TIMES. If it doesnt a new fractal is forming.
The resistance might give way and DXY can move ABOVE IT , the limitation is to the downside , not to the upside.
Trifract went Long @ 95.95 DXY by shorting the EUR/USD and will exit IF the price moves and closes several bars BELOW the support.
Okay , so DXY confirmed that this was in fact a reversal. Now the Blue Channel is a POTENTIAL next channel for the price of the Dollar - THE SUPPORT SHOULD HOLD AT ALL TIMES. If it doesnt a new fractal is forming.
The resistance might give way and DXY can move ABOVE IT , the limitation is to the downside , not to the upside.
Trifract went Long @ 95.95 DXY by shorting the EUR/USD and will exit IF the price moves and closes several bars BELOW the support.
