There are several confluences for this trade which are shown in the chart. I think this is a worthwhile opportunity but since I missed the ideal entry here I am going to be patient and watch for a better entry. I will post an update when/if I have entered.
This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn as a trader and none of my ideas are trading advice. That said I always appreciate any comments and feedback on my charts and ideas!
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I will take at least half profit at 101.90 and consider reversing positions based on price action
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Price never made it to my TP1 at 101.90 and so was stopped at breakeven. It seems DXY has found some support here -- 1 pip above the 1.618! So awesome.
That said I am entering a DXY long as shown in the chart in the update above. Good luck!
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Moved stops 2 pips below breakeven as shown in the chart above
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Stops are now 2 pips above breakeven -- watch price action in the rectangle illustrated in the above update