Analysis:
I've seen DXY correctively retrace towards a diagonal resistance (trendline).
& It is currently entering into a 2 day reversal zone.
Hypothesis:
I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue.
Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow
Risk Management:
Trade potential 3:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned about shorting against short term bullish momentum.. you can wait for a 4hr bearish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
I've seen DXY correctively retrace towards a diagonal resistance (trendline).
& It is currently entering into a 2 day reversal zone.
Hypothesis:
I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue.
Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow
Risk Management:
Trade potential 3:1 +
Take off half at 1:1, and move stops to Break even. Let rest ride to Target.
If you are concerned about shorting against short term bullish momentum.. you can wait for a 4hr bearish candle before entry.
PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
Trade active:
This trade is live.