it's been a while since my last post about how i think or my opinion regarding the DXY movement.
as we saw last time candle dd 10/06/23 price pretty much has stopped from going further down then bounce back from discounted area taking the old high dd 4/12/23. however from my pov i see this as a fail take-over as price reach the fvg without leaving a strong impression that it might come back for good towards our long overdue weekly SIBI.
but the good thing is regardless it fail, still it also did took over the old low dd 26/12/23. which means price is manipulating traders to think that the price seek buyside in a long run.
I'd like to say that i probably would see it in either of this two scenarios.
1. IF ITS TRUE that whatever I'm blabbering about how the old high dd 4/12/23 is the TRUE HIGH the price is likely to reverse towards the old low 26/12/23. So I'm saying I'll be looking for selling opportunity starting next week. cos what's the point selling now without confirmation right? anyways.
2. IF ITS THE OPPOSITE, the one that i marked " X " would be invalidated, meaning buyside is on for the rest of the month baby!!!!! who wouldn't want that. chances for price to go buyside this week? none. cos its fryyyyyyy-day :) movement is kind slow cos there's no force.
so, how will it impact the rest of the instruments? well for instant the currency, its the opposite. (newbie tips)
that's all. hope's it gives an insight inside my world. happy trading and be careful!
A'x
as we saw last time candle dd 10/06/23 price pretty much has stopped from going further down then bounce back from discounted area taking the old high dd 4/12/23. however from my pov i see this as a fail take-over as price reach the fvg without leaving a strong impression that it might come back for good towards our long overdue weekly SIBI.
but the good thing is regardless it fail, still it also did took over the old low dd 26/12/23. which means price is manipulating traders to think that the price seek buyside in a long run.
I'd like to say that i probably would see it in either of this two scenarios.
1. IF ITS TRUE that whatever I'm blabbering about how the old high dd 4/12/23 is the TRUE HIGH the price is likely to reverse towards the old low 26/12/23. So I'm saying I'll be looking for selling opportunity starting next week. cos what's the point selling now without confirmation right? anyways.
2. IF ITS THE OPPOSITE, the one that i marked " X " would be invalidated, meaning buyside is on for the rest of the month baby!!!!! who wouldn't want that. chances for price to go buyside this week? none. cos its fryyyyyyy-day :) movement is kind slow cos there's no force.
so, how will it impact the rest of the instruments? well for instant the currency, its the opposite. (newbie tips)
that's all. hope's it gives an insight inside my world. happy trading and be careful!
A'x
Comment:
whew! scenario no. 1 taken into favor by fomc early this morning. did any took buy on other currency? whats you opinion about the movement caused?
Trade closed: target reached:
Scenario 2 winner!!! looking forward to consume the whole weekly fvg then we might see it retrace soon. happy trade!
Comment:
weekly fvg, pretty much gone. buyside is on our side until the retracement is done. at this point have a break have a kitkat haha
Comment:
nothing much change, price is still continue to rise whilst other instrument seeking sellside.