$DXY - Headed South (97)

- The Dollar Index DXY is trading below many resistances
(broken big range of 100.8-105 ; trendline resistance from 114 High; 20-50EMA)
In the short term DXY seems to be gravitating towards downside, with a completion
of macro correction ABC Waves, with C wave probably ending at 97 macro S/R
resistance area.
This critical macro S/R is quite likely the next stop for DXY to find some floor of
Support to bounce greatly.
With DXY headed South at 97, other Financial Markets Sectors will perform great
in gains, so would Bitcoin and other cryptocurrencies



TRADE SAFE !
*** Note that this is not Financial Advice.
Please do your own research and consult your own Financial Advisor before partaking
on any trading activity based solely on this Idea.

Comment:

SHORT idea to 97 target
Stop Loss can be adjusted

Comment:

DXY reaction to yesterday's USINTR Rate Hike decision
Resulting on a trendline faket-out getting back inside facing rejection at 20EMA
(Next resistance 50EMA)

Powell stated that most economist don't anticipate a recession anymore.
Funny !
Two consecutive negative quarters got saved a by a fake high employment number.
Feds are tricksters and masters of hidden messages and postponing cascading tragedies.
How great !
How about another joke, Powell ...

Our pal Powell worth mentioning is that he stated that Feds 2% CPI target norm of normal Inflation will not be reached until 2025.
Something' definitely smells fishy here, as previous CPI numbers got CPI down at 3%
Just a shy 1% away of Feds norm .
Why learn economics.
Trading has become a gold mining for patient and strategized Poker Players

TRADE SAFE

Comment:

DXY facing Dynamic Resistance of 200EMA on *Daily (tf)
Anticipating short-term direction South

Comment:

( DXY -Headed South 97) played out in the opposite way of forecast expectation.
Eerie similiar bars pattern move but on North direction, not South.
DXY has yet to clear previous HL to invalidate this idea totally in terms of price action (by printing a new macro HH)

Next Resistances :
- previous Macro LH @104.7 (new HH ;CHoCH)
- Range's Ceiling 105.9
- Strong Resistance level at Macro Fibbonacci taken from 114 High to 100.8 Range Low
(0.618 Golden Zone @ 106.1)

Trading is not about being right,
its about having plans and edges in place in order to protect your capital.
Losses are as well part of the game