DXY - 4H - possible fractal repetition.

Oct 26, 2020

Not a financial advisor.

Currently looking at the DXY, seems that a possible pattern is being formed on the 4h.
If this Cup and Handle is successful, we can see DXY reaching the top of the channel...

Oct 26, 2020

Note

Last 4h candle closed above the neckline...
I was expecting a stronger break...as long as there is no fakeout the top of the channel would remain the target.

Oct 26, 2020

Note

This breakout does not look successful.
This fake out would mean a retest of the channel support line or the middle of the channel.

Oct 27, 2020

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Knock Knock....

Oct 27, 2020

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I would say, below 92.7 the pattern is no longer valid.
Even higher lows trendline in yellow seems to have been broken.
Awaiting for DXY to decide itself! :)

Oct 27, 2020

Note

Candle close above the yellow trendline maintaining the possibility of an uptrend and the pattern remain possible to be completed.

Oct 27, 2020

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I would have to consider this more an ascending triangle than a Cup and Handle!

Oct 28, 2020

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Playing as expected:

Oct 28, 2020

Trade closed: target reached

Reaching target... Trade closed!!

It is important to know IF downslopping resistance is broken ...
A BIG move can come for DXY!

Oct 28, 2020

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Oct 28, 2020

Trade closed: target reached