DXY (Dollar Index) 61.8% Fibonacci Pullback
Reversed my Fibonacci Retracement Tool to show the extensions. 61.8% pullback occurred at 88.951 and held perfectly.
I didn't post a chart back then because I just noticed this pattern and how key that level was for a hold. The index moves so slow, it is still early enough to get in on long USD trades for the foreseeable future with leverage.
Watch out as DXY approaches 103.915, mainly because this is a prior all-time high. Clear breakthrough will further support the run to 113.164.
I will be trading mainly: Short EUR/USD, Short AUD/USD, Long USD/CHF, etc. Short-term opportunities in those directions will be great trades to take.
I didn't post a chart back then because I just noticed this pattern and how key that level was for a hold. The index moves so slow, it is still early enough to get in on long USD trades for the foreseeable future with leverage.
Watch out as DXY approaches 103.915, mainly because this is a prior all-time high. Clear breakthrough will further support the run to 113.164.
I will be trading mainly: Short EUR/USD, Short AUD/USD, Long USD/CHF, etc. Short-term opportunities in those directions will be great trades to take.
Trade active
Trade closed: target reached:
Too much political uncertainty, closing this at 96.4 for a 0.45 profit