The dollar has been in an uptrend since the start of the year... the time has come for the reversal! Price has been mitigating while moving in its uptrend taking out zones of demand, this is an indication that price will move smoothly downwards past those levels due to no demand in that area. We broke above a major structural high last seen in September 2020. This is vital in terms of prive reversing, there is no more demand for price to move higher and if no it will be only a temporarily push upward (1-3 days) just to take out liquidity. The trendline I use here is a mitigation trendline I use it to put myself in the mind of a retail trader, banks will breakout of these trendlines to take out liquidity.... trendlines and support and resistance do not work! My targets moving down are doing to be previous areas of demand seen in the blue zone.... safe trading!
Short all USD/X pairs when opportunity arises and be patient... Long all X/USD also when the time comes.
I personally will wait for a break of structure (BOS) in my desired direction before entering the trade.... let the market show its hand ;)
Short all USD/X pairs when opportunity arises and be patient... Long all X/USD also when the time comes.
I personally will wait for a break of structure (BOS) in my desired direction before entering the trade.... let the market show its hand ;)