From 4 hour candles , dollar index is still in the big downward trend, the first pressure position maybe near 90.45, stronger pressure maybe near 91.02 (close to the downtrend line );
From 1 hour candles , after the second time of rising last night, we can draw the basic rising trend line as a support line, if price do not break this support rising trend line, the trend can be still short-term bullish;
From 5 minutes for level, we need to wait for stability, and close to 1 hour rising trend line, then we can do an open trade for long position.
From the performance of rising altitude ( rise point ) of the second rising wave yesterday, it is about 1.618 times higher than the the first rising wave (the day before yesterday), so the market strength belongs to the relatively strong degree (usually 1 times). So we can probably estimate the rising point tonight, as follows:
1. conservative estimation, at least the same as the first rising wave, 2. robust estimation, the same as the second rising wave, 3. theoretical maximum estimation, 1.618 times of second rising wave.
Specific operation strategy also depends on market performance tonight when dollar index is near 90.45 and 91.02 , I don't make too much personal predictions, I just wait and see the reaction of the real time market.
P.S. same trading opportunities in gold / EUR-USD / USD-CHF / GBP-USD .... I think there are strong correlation between the trend of these trading products.
From 1 hour candles , after the second time of rising last night, we can draw the basic rising trend line as a support line, if price do not break this support rising trend line, the trend can be still short-term bullish;
From 5 minutes for level, we need to wait for stability, and close to 1 hour rising trend line, then we can do an open trade for long position.
From the performance of rising altitude ( rise point ) of the second rising wave yesterday, it is about 1.618 times higher than the the first rising wave (the day before yesterday), so the market strength belongs to the relatively strong degree (usually 1 times). So we can probably estimate the rising point tonight, as follows:
1. conservative estimation, at least the same as the first rising wave, 2. robust estimation, the same as the second rising wave, 3. theoretical maximum estimation, 1.618 times of second rising wave.
Specific operation strategy also depends on market performance tonight when dollar index is near 90.45 and 91.02 , I don't make too much personal predictions, I just wait and see the reaction of the real time market.
P.S. same trading opportunities in gold / EUR-USD / USD-CHF / GBP-USD .... I think there are strong correlation between the trend of these trading products.
Trade closed: target reached