Daniel.B
Long

Long Entry at Channel Bottom

TVC:DXY   The U.S. Dollar Index
82 0 2
Hi all! Well earlier I entered long the dollar since price had reached the bottom of the channel. Forming a doji candlestick pattern on Friday.

First Target: The area of congestion (highlighted) where price made a large impulsive move to the bottom of the channel. Price was quickly bid so I entered long based off of that.

Stop Loss: Placed at the previous low to allow for any price volatility at the channel bottom.

Second Target: Slightly below the previous swing high at 98.40 where price was aggressively sold. A break and close above 98.40 would expose major multi-month resistance at 100.43.

Best of luck all!

Will be posting a chart on USD/TRY             soon also on area's where I will be looking for more long entries.
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