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UnknownUnicorn17387766
Dec 12, 2022 4:36 AM

DXY falling wedge Long

U.S. Dollar Currency IndexTVC

Description

I'm not a forex trader but I found this interesting.

I think a top around ~120 is interesting because it's the 2001 top.

The chart says everything else.

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The paths are just random paths to demonstrate levels btw. Timings will likely be completely different.

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EUR/USD

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Ltf. I'd say bait what dp I know? :D I'm a crypto trader.

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Faking both up and down? And they say crypto is hard :D

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What do you do when a wedge is broken to the wrong side? You redraw it :D


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Jebait was the jebait? :D

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When a whole move can fit in a single wedge, it's hard to be wrong.

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euro is bullish wooow. weekly looks like an accumulation right now. very interesting.

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Do I believe it? No. But whatever the chart says. We have to wait for the weekly close.

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What a disgusting PA. OMG

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I have friends who say "you should trade forex. better pa etc." i'll keep saying "no, thanks" :D

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very bullish outlook on dxy ltf

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Idk what the hell is dxy doing on this frame really. Is it just a painful launch or weakness? I'd choose the former but really hard to say.

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You know what? I think this is a good thing. Euro just needs to consolidate around here. As far as I can see everyone is bearish on Euro and I think they are right fundamentally. But you know., you never know :D

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Now it makes sense i guess.

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I think Euro might be bullish actually. Is this looking like a top anymore? I mean maybe, but looks more like bullish consolidation to me.

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Make it or break it.

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Interesting.

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DXY is bullish. A key horizontal is broken. Bearish momentum faded slowly. It's like someone stepped on the brake.

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what the hell is going on here :D This should come back to the range. It looks ridiculous.

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Interesting PA before Powell speech. Is he going to shatter the dreams again?

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No shot DXY finds support here, right? Looked like an insignificant level to me yeah.

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Only EUR/USD makes me think. This one might be really bullish.

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It's an impulsive move for sure. Maybe it's going for an Eiffel Tower. But thats too crazy right now. Let's see if 0.5 correction will be a support.

Comments
JoeChampion
I agree on short term USD strength, thanks!
jimmythis343
So much for falling wedge...DXY is just trading sideways...for now
jimmythis343
Interesting...could go either way...most of this will depend on the CPI data coming out this week.
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