nick101trading

DXY reaching trend line resistance

TVC:DXY   US DOLLAR CURRENCY INDEX
43 4 2
Watching to long gold             plays and/or short $dust.
4thewin
6 months ago
Thank you for posting this chart. My concern here is the weekly chart. You have an inverted hammer which is confirmed by the Three white soldiers bullish candlestick pattern which took out that massive red down day. True, you are coming into the resistance line you drew. I guess if that breaks the trend will reverse?

thoughts? Thank you

snapshot
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4thewin 4thewin
6 months ago
sorry i said "red down day" - it is a red down week. (weekly chart). thanks
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nick101trading PRO 4thewin
6 months ago
Yes, if trend line breaks idea is off. Not necessarily a reversal but I'll watch for consolidation and next setup.
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4thewin nick101trading
6 months ago
what do you mean by not necessarily a reversal? Why not?
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