DXY currently looking extremely oversold here and looks ready for a nice bounce possible $1-$2 profit target.
Nice 3 bar candle in play on the back of much stronger than expected employment data this week. RSI divergence on the daily validates long entry against the trend for a short term swing trade long. Several resistance lines above so scale out profits on the way up, stop at the low of the 3 bar candle pattern.
Nice 3 bar candle in play on the back of much stronger than expected employment data this week. RSI divergence on the daily validates long entry against the trend for a short term swing trade long. Several resistance lines above so scale out profits on the way up, stop at the low of the 3 bar candle pattern.
Trade closed manually:
I've now closed this trade at slightly less than breakeven before the stop is hit as the hourly 200ma has turned quite negative. Really I would liked to of seen more buying coming in by now and it hasn't so i'm happy to exit with just a slight loss and look for another set up.
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
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