We are currently forming the weekly gap, which is a huge bullish sign on the higher timeframes.
We also in the making of a 4h imbalance. For the upcoming days, I would want to see price come back at least to this 4h gap on the top. It could retrace lower, but it is too far down for my eyes. Price already offered fair value during the prior consolidation phase. So a sting down into the top 4h gap is more than enough for me to be bullish on the dollar.
Final invalidation of this idea is if we start to print bearish gaps down and close below the invalidation line on the 4h basis.
Ok that's it for now be safe byyyy
We also in the making of a 4h imbalance. For the upcoming days, I would want to see price come back at least to this 4h gap on the top. It could retrace lower, but it is too far down for my eyes. Price already offered fair value during the prior consolidation phase. So a sting down into the top 4h gap is more than enough for me to be bullish on the dollar.
Final invalidation of this idea is if we start to print bearish gaps down and close below the invalidation line on the 4h basis.
Ok that's it for now be safe byyyy
Comment:
4h bearish gaps are taking over, the closure below the invalidation is likely too.
Comment:
As I said, if we are overall bullish, we should form that weekly gap, and we shouldn't trade deep into that. We shouldn't trade back to that in the first place.
If that gap won't be created, than the objective should be reconsidered. It shows that there is a lack of momentum in the market to meet it's upside targets. The conditions (at least for me) are low probability.
If that gap won't be created, than the objective should be reconsidered. It shows that there is a lack of momentum in the market to meet it's upside targets. The conditions (at least for me) are low probability.
Trade closed: stop reached:
oookay, looks like we have a bearish week with a Tuesday high.
From now on I will be looking for downside objectives on DXY. First the previous lows to be taken. After that, the weekly gap (that is still forming) to be closed. In other words, I would like to se price prevent that weekly gap from forming fully.
Idea is invalidated ok byyyyy
From now on I will be looking for downside objectives on DXY. First the previous lows to be taken. After that, the weekly gap (that is still forming) to be closed. In other words, I would like to se price prevent that weekly gap from forming fully.
Idea is invalidated ok byyyyy