DXY - Possible Double top forming with pin bar at resistance...
DXY is breaking out of its short term trend-line resistance as shown in my previous idea:
HOWEVER:
- DXY looks to be forming a possible double top bearish pattern after forming a pin-bar at 96.7-96.8 previous resistance area
- Neckline of this pattern is found @ ~ 96.25
- This level is the previous contact point of DXY's Bullish trend channel support
- Therefore if the neckline was to be broken and the pattern confirmed, this could lead to a bearish breakout of its bearish channel.
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- DXY looks to be forming a possible double top bearish pattern after forming a pin-bar at 96.7-96.8 previous resistance area
- Neckline of this pattern is found @ ~ 96.25
- This level is the previous contact point of DXY's Bullish trend channel support
- Therefore if the neckline was to be broken and the pattern confirmed, this could lead to a bearish breakout of its bearish channel.
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- This pattern is now INVALID