DXY is pushing up, are you in the USD pairs? Long

U.S. Dollar Currency IndexTVC

Description

⋅ Sep 17, 2020 3:31 AM

Hello traders:

We finally see the USD has some bullish momentum after many months of bearish price action.

We see the latest HTF descending channel formed, and I was already having a bias for a long on most USD pairs.

We see DXY had the confirmation breakout form that descending channel, and begin to form a deeper continuation correction.

Latest price action shows a confirm LTF breakout from that correction, and we can expect more strength from the USD.

Look for LTF continuation correction now, and take the next up ride.

Thank you

Comment

⋅ Sep 17, 2020 3:31 AM

Comment

⋅ Sep 22, 2020 9:56 PM

Continuations upside.

Comments

Arter

⋅ Sep 17, 2020 7:21 PM

jojofang0901, what take profit do you recommend here? Thank you

PolarHusk

⋅ Sep 17, 2020 6:33 AM

GoodJob

jojofang0901

⋅ Sep 17, 2020 8:02 AM

@PolarHusk, :)

KaltoireCapital

⋅ Sep 17, 2020 6:25 AM

Good work. Keep it up

jojofang0901

⋅ Sep 17, 2020 8:02 AM

@SynergyCapital, Will do :) thank you

igordennis

⋅ Sep 17, 2020 5:05 AM

I am in the USDCAD long and NZDUSD short trades. Timed the entry well so pretty green for now - what does it mean for those pairs if DXY pushes up? Would it put pressure to negate those setups (make USDCAD go down and NZDUSD go up)? Sorry, i'm not sure how the correlation works in this case. Thanks as always for the ideas.

jojofang0901

⋅ Sep 17, 2020 5:13 AM

@igordennis, Hello :) Well quite the opposite. If DXY pushes up, it would mean USD is getting bullish. So your trade on USDCAD Long and NZDUSD short will likely continue on the USD strength. Hope that answer your question. Thank you

Saeed966

⋅ Sep 17, 2020 3:43 AM

Nice job

jojofang0901

⋅ Sep 17, 2020 3:58 AM

@Saeed966, thank you :)