Pair: U.S. Dollar Index (DXY)
Timeframe: 30 minutes
Current Price: 98.602
Trend: Short-term bullish channel (highlighted in pink)
🧭 Key Levels
Support Zone: 98.100 – 98.350
Entry Point: 98.353 (buy zone confirmation)
Stop Loss: 98.099 (below support)
Target Point: 99.140
📊 Market Structure
The price is moving within an ascending channel, showing a steady uptrend.
It has recently reached the upper boundary of the channel and is now expected to retrace toward the support zone (blue box).
After retesting this support level, a bullish continuation is expected.
🧩 Trade Idea
Plan: Wait for price to retest the blue support area.
If bullish candlestick confirmation appears (e.g., bullish engulfing, hammer), enter a buy trade near 98.350.
Stop Loss: below 98.099 (safe margin under support).
Take Profit: near 99.140, aligning with the top of the projected move.
Risk–Reward Ratio:
Approx. 1:3.5 — good reward compared to risk.
⚠ Possible Scenarios
1. ✅ Bullish Scenario:
Price respects the support level → breaks above 98.80 → continues to 99.14.
→ Confirms continuation of bullish trend.
2. ❌ Bearish Scenario:
Price breaks below 98.10 → invalidates bullish setup → channel structure fails → potential drop toward 97.80 zone.
📈 Conclusion
Current trend: Bullish, but waiting for a retracement and confirmation is key.
Buy zone: 98.35–98.10
Target: 99.14
Stop Loss: 98.09
Timeframe: 30 minutes
Current Price: 98.602
Trend: Short-term bullish channel (highlighted in pink)
🧭 Key Levels
Support Zone: 98.100 – 98.350
Entry Point: 98.353 (buy zone confirmation)
Stop Loss: 98.099 (below support)
Target Point: 99.140
📊 Market Structure
The price is moving within an ascending channel, showing a steady uptrend.
It has recently reached the upper boundary of the channel and is now expected to retrace toward the support zone (blue box).
After retesting this support level, a bullish continuation is expected.
🧩 Trade Idea
Plan: Wait for price to retest the blue support area.
If bullish candlestick confirmation appears (e.g., bullish engulfing, hammer), enter a buy trade near 98.350.
Stop Loss: below 98.099 (safe margin under support).
Take Profit: near 99.140, aligning with the top of the projected move.
Risk–Reward Ratio:
Approx. 1:3.5 — good reward compared to risk.
⚠ Possible Scenarios
1. ✅ Bullish Scenario:
Price respects the support level → breaks above 98.80 → continues to 99.14.
→ Confirms continuation of bullish trend.
2. ❌ Bearish Scenario:
Price breaks below 98.10 → invalidates bullish setup → channel structure fails → potential drop toward 97.80 zone.
📈 Conclusion
Current trend: Bullish, but waiting for a retracement and confirmation is key.
Buy zone: 98.35–98.10
Target: 99.14
Stop Loss: 98.09
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
join my telegram channel t.me/goldmitalteam
t.me/goldmitalteam
t.me/goldmitalteam
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.