Indecision on Dollar Index (Daily) provides potential SHORT
After a preceding bullish trend on the US Dollar Index (Daily) indecision has formed on Resistance. This provides a potential reversal trade. I am looking at a 1:2 Short position with this trade.
If price stalls on the support level identified as ‘Profit Level 1’ I will take 50% of my profits and bring my Stop Loss to a Break Even position to see out the remainder of the trade.
DISCLAIMER
High investment risks.
Trading foreign exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.
Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.
The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. You should be aware of all risks associated with Forex trading, and look for advice of any independent financial adviser if you have any doubts.
Opinions.
Any opinion, news, research, analyses, or other information provided should be interpreted as general market commentary, not as an investment advice. I am NOT a financial adviser.
I will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information.
If price stalls on the support level identified as ‘Profit Level 1’ I will take 50% of my profits and bring my Stop Loss to a Break Even position to see out the remainder of the trade.
DISCLAIMER
High investment risks.
Trading foreign exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.
Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.
The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. You should be aware of all risks associated with Forex trading, and look for advice of any independent financial adviser if you have any doubts.
Opinions.
Any opinion, news, research, analyses, or other information provided should be interpreted as general market commentary, not as an investment advice. I am NOT a financial adviser.
I will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information.
Trade closed: stop reached
They were not used to identify this trade and were not supposed to be shown in the image. For some reason TradingView added them into my image.