We have run across a situation on DXY where we must have one of the two confirmations to side either with bulls or bears. There are two possibilities at the moment:
1- The Bull Flag confirms breaking out of this 112.xx zone we shall have a full on signal to go long to the targets as described in the chart
2- If we break lower than 108.8x zone, we shall then have a confirmation of the triple tops pattern which is a signal to go short to the target zone described in the chart.
You can relate your entries on precious metals as well with this analysis. Since, DXY is inversely proportional to silver and gold.
Best of luck, happy trading and happier profits :-)
1- The Bull Flag confirms breaking out of this 112.xx zone we shall have a full on signal to go long to the targets as described in the chart
2- If we break lower than 108.8x zone, we shall then have a confirmation of the triple tops pattern which is a signal to go short to the target zone described in the chart.
You can relate your entries on precious metals as well with this analysis. Since, DXY is inversely proportional to silver and gold.
Best of luck, happy trading and happier profits :-)
Comment:
it broke low, triple tops confirmed, now heading lower, best of luck :-)
Trade closed: target reached