elevatedinvestor

DXY - Outlook For The Week..92.75 + 92.20 Look Promising

INDEX:DXY   US DOLLAR CURRENCY INDEX
I should have posted this last week, but after seeing how September closed, we can expect that we are working within a range during the month of October.

Why?

Look at the Highs and Lows.

September opened and cleared Augusts low, but then it cleared Augusts high.

This shows inconsistency, if we break it down further, we can see that August ended with three "unloads."

I'm not sure what else to call them but when we get three moves like that it shows me there is profit taking, heavy buying, or a mix of both.

The clear of Aug high tells us that we should be thinking like a market maker and begin building a position with them.

I think bullish positions will be built and from what I'm seeing 92 is the spot of interest.

What does this mean for this week though?

Since we are in an expected range this month, just be mindful of that and understand you should work within it.

Within this range we have equal lows, this could be where there is some fresh liquidity. I'm expecting a run for it this week. Especially if we stay under the purple bearish block zone.

I think we may trickle up early in the week due to Columbus Day.

"You aren't trading the market, you're trading your beliefs."

Want to learn my strategy?

Join the Elevated Trade House Here -> DM me.
View My Performance -> Coming Soon (myfxbook)

Comments

The targets will be reached when the supply increases, great view, thanks for the update.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out