Hello everyone this is my idea for dxy on weekly time frame
all details are on chart but I will discuss our plan below .. on what we should do
we just need to keep it simple and control our emotion .. we are traders ... no bias just trading what market give us
price is ranging between red line and green line
It looks like price has broken the long term support ( green line ) however monthly candle not closed yet
another thing to pay attention too is ... RSI price is sitting on a very long term support and didn't break it
this could trigger a strong buy and in the chart same time fake out price could close back into the triangle ...
market likes to mess with people ...
Our plan is to see This month daily candle close are we back into triangle or below it
And will orange line hold as support or will it break to downside ..
a break of red line a monthly candle close above is very bullish for DXY
for any question feel free to ask :)
all details are on chart but I will discuss our plan below .. on what we should do
we just need to keep it simple and control our emotion .. we are traders ... no bias just trading what market give us
price is ranging between red line and green line
It looks like price has broken the long term support ( green line ) however monthly candle not closed yet
another thing to pay attention too is ... RSI price is sitting on a very long term support and didn't break it
this could trigger a strong buy and in the chart same time fake out price could close back into the triangle ...
market likes to mess with people ...
Our plan is to see This month daily candle close are we back into triangle or below it
And will orange line hold as support or will it break to downside ..
a break of red line a monthly candle close above is very bullish for DXY
for any question feel free to ask :)