TheSignalyst

DXY - Bearish => Bullish!

TVC:DXY   U.S. Dollar Index
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

As per our previous analysis, DXY rejected the upper bound of the red channel and traded lower.

What's next?

πŸ“‰ DXY is undergoing a correction phase, trading within the rising channel in red, and it is currently approaching the lower bound of the channel.

Moreover, it is retesting a strong demand zone highlighted in green.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green demand and lower red trendline.

πŸ“š As per my trading style:
As #DXY approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

πŸ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

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