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⋅ The media is massively FUDDING the USD.
I do not believe this is a coincidence that we experience this at such a critical perhaps turning point double bottom on the DXY.
Its hard to hold dollars right now, They've been crushed for awhile, and assets have been going up.
I am suggesting this ends soon.
If we go below the white box, im a complete clown.
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⋅ Okay it felt like taking peoples stop losses first, then reversing up. Same idea still. No clown hat yet.
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⋅ Just noticed its a falling wedge maybe sorta kinda
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⋅ Taking quite some time here, but the idea remains the same.
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⋅ I mean, still followin the plan it seems.
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⋅ Bullish div on Macd
Same w shape on the Macd averages
Critical support held and showed a reaction on price...
Falling wedge broke to upside
Rates moving higher for longer...
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⋅ Keep er goin!
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⋅ Seems like a good place to end the correction and continue up.
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⋅ I mean, if i can see it so can everyone else.
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⋅ Lets see if it lasts. some important resistances are not far above us now. Namely the 100 day moving average and the march 2023 swing high of 105.88
If these are cleared, i dont see why we dont test new All Time High.
Some ask why I track this, and simply, if the DXY is trending, it usually impacts broader markets in one way or another.
IF DXY is not trending, and rather it is ranging, then markets tend to do quite well.
so for markets to continue doing well, you would hope dxy does not break 105.88.