🏆Holy Grail🏆 Shows the DXY Index will increase🚀
🏃♂️The DXY index has been moving above the Uptrend line for more than 2 months.
✅ The DXY index managed to break the 🔴Resistance zone($105.8-$104.5)🔴 last week.
↘️ In the last week, we saw the DXY pull back to the 🔴Resistance zone($105.8-$104.5)🔴.
🏆Today, I analyzed the possible trend of the DXY Index for the coming week using the 🏆Holy Grail Strategy🏆.
📚Getting to know the 🏆Holy Grail strategy🏆
Holy Grail is one of the strategies described by Linda Raschke and Laurence Connors in their book “Street Smarts”. The name of the strategy is mocking because it is super simple. It suits timeframes from M1 to MN and any instrument in Forex, futures, and stock markets.
The desktop of the strategy consists of one simple Exponential Moving Average (20), applied to Close prices, and the ADX indicator with standard parameters and the marked level 30.
The idea of the strategy is that ADX shows the strength of the trend on a certain period. Some traders think that a reversal of this indicator top-down signals a trend reversal but this is not always true, the correctness of this idea depends on whether we are trading in a flat or trend. We do not care about flats, so this is what the EMA (20) is necessary for: its slope shows the direction of the current trend.
📚A signal to buy
A signal to buy by the Holy Grail forms when ADX rises above 30, following the growth of the price; after that, the price must pull back to the EMA (20) and touch it. When the candlestick that has touched the EMA closes, place a buying order above the high of the candlestick with the initial Stop Loss below its low. As for the Take Profit, place it slightly below the highest local high that formed after the price pulled back to the EMA (20). If the next candlestick does not trigger the buying order, and its high turns out below the preceding candlestick, place the order above this candlestick. And if its low renews the low of the previous candlestick, place the SL below the former. Of course, ADX will be falling alongside the price. However, for the signal to be valid, ADX must not fall below 30.
🔔According to the Holy Grail strategy and the Hammer Candlestick Pattern, which indicates the completion of the pullback to the broken 🔴Resistance zone($105.8-$104.5)🔴, I expect DXY to have an upward trend in the coming week and can increase to the 🔴Resistance zone($109.3-$107.7)🔴.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, Daily time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
✅ The DXY index managed to break the 🔴Resistance zone($105.8-$104.5)🔴 last week.
↘️ In the last week, we saw the DXY pull back to the 🔴Resistance zone($105.8-$104.5)🔴.
🏆Today, I analyzed the possible trend of the DXY Index for the coming week using the 🏆Holy Grail Strategy🏆.
📚Getting to know the 🏆Holy Grail strategy🏆
Holy Grail is one of the strategies described by Linda Raschke and Laurence Connors in their book “Street Smarts”. The name of the strategy is mocking because it is super simple. It suits timeframes from M1 to MN and any instrument in Forex, futures, and stock markets.
The desktop of the strategy consists of one simple Exponential Moving Average (20), applied to Close prices, and the ADX indicator with standard parameters and the marked level 30.
The idea of the strategy is that ADX shows the strength of the trend on a certain period. Some traders think that a reversal of this indicator top-down signals a trend reversal but this is not always true, the correctness of this idea depends on whether we are trading in a flat or trend. We do not care about flats, so this is what the EMA (20) is necessary for: its slope shows the direction of the current trend.
📚A signal to buy
A signal to buy by the Holy Grail forms when ADX rises above 30, following the growth of the price; after that, the price must pull back to the EMA (20) and touch it. When the candlestick that has touched the EMA closes, place a buying order above the high of the candlestick with the initial Stop Loss below its low. As for the Take Profit, place it slightly below the highest local high that formed after the price pulled back to the EMA (20). If the next candlestick does not trigger the buying order, and its high turns out below the preceding candlestick, place the order above this candlestick. And if its low renews the low of the previous candlestick, place the SL below the former. Of course, ADX will be falling alongside the price. However, for the signal to be valid, ADX must not fall below 30.
🔔According to the Holy Grail strategy and the Hammer Candlestick Pattern, which indicates the completion of the pullback to the broken 🔴Resistance zone($105.8-$104.5)🔴, I expect DXY to have an upward trend in the coming week and can increase to the 🔴Resistance zone($109.3-$107.7)🔴.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, Daily time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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Golden Cross also ✅confirms ✅my analysis.