KevinT
Long

Support line hit Part 3

INDEX:DXY   U.S. Dollar Index
117 4 0
Apart from Price Action and indicator confirmation, the last 2 candles show a Bullish Harami. To my experience, this formation doesn't necessarily means a long term trend change. But it does predict a change. Harami is quite trustworthy formation.
With the confirmation of part 1,2 and 3, I can say LONGGGGGGGGGGGGGGG!!!!!!!!!!!

For more info about Harami candle formation:

http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/Harami.html
Monk
3 years ago
it could be like the last break out with a consolidation and then boom! however this time round the indicators are not as oversold... more downside KT?
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Monk Monk
3 years ago
... or positive divergence with a double bottom...??
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KevinT Monk
3 years ago
Tge chart doesn;t indicat any positive divergence. RSI isn't OS, which indicate a more bullish bias, thouht stochastics and CCI are in OS area.
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KevinT KevinT
3 years ago
A crossing of the stochastics may provide more confirmation.
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