- The Dollar Index TVC:DXY is trading below many resistances (broken big range of 100.8-105 ; trendline resistance from 114 High; 20-50EMA) In the short term TVC: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 TVC:DXY to find some floor of Support to bounce greatly. With TVC: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.
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SHORT idea to 97 target Stop Loss can be adjusted
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TVC:DXY reaction to yesterday's ECONOMICS: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
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TVC:DXY facing Dynamic Resistance of 200EMA on *Daily (tf) Anticipating short-term direction South
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(TVC:DXY -Headed South 97) played out in the opposite way of forecast expectation. Eerie similiar bars pattern move but on North direction, not South. TVC: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