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Simple_Renko

Will the DXY move up last?

Short
U.S. Dollar Index (TVC:DXY)  
Simple_Renko Updated   
TVC:DXY   U.S. Dollar Index
Supply and Demand Trend Lines Beyond Technical Analysis
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supplyanddemand trendline beyondta
See callout bubbles. DXY is currently ranging higher, but it's coming into a nice area where I believe sellers will have the upper-hand. There is an inverse equivalent demand zone on the EURUSD if you can't trade the DXY like me. See my Idea on the EURUSD from 12/4 for analysis.
Comment:
The DXY came right into our area where we expect sellers to be. The initial reaction to the area is exactly what we wanted to see. We just touched it and now we're moving away.

My thoughts are that there will be a nice push up again, but the fact that there appear to be sellers in the area (and this the the day before NFP's) gives me more confirmation that this area is good for the Short.

Ideally, I would love to see the USD weaken significantly overnight in the Aussie, Asian, and Euro sessions, that way when the NFP #'s come out, we will have some distance between price and our entry. That may or may not happen, but either way, our risk is limited at entry and we need not worry about the outcome. Just trade small and trade often and live to trade another day.

Always measure your risk and be okay with being wrong ; )
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