Update: Short entered at 98.94. Stops moved from break even to 97.74. TP 1 96.60 / TP 2 -27 Fib / TP 3 -618 Fib
Well hopefully most came out unscathed from the FOMC yesterday, as I sure did not. Licking some wounds, but moved on and ready for the next day, with an adjusted plan of action! =)
Im waiting to short the DXY in the previous support turned resistance at the .618 area upon confirmation on the lower TF's. Target 1 would be the -27 Fib and target 2 will be the -618 Fib. Stops will be moved to break even upon reaching target 1. If there is no confirmation of price being rejected at resistance then I will sit aside on the sidelines.
And the important part now, stops will be above the high (100.38)
And as always I will wait for confirmation on the lower time frames.
Happy Trading traders, always remain flexible to the changing market dynamics. =)
Well hopefully most came out unscathed from the FOMC yesterday, as I sure did not. Licking some wounds, but moved on and ready for the next day, with an adjusted plan of action! =)
Im waiting to short the DXY in the previous support turned resistance at the .618 area upon confirmation on the lower TF's. Target 1 would be the -27 Fib and target 2 will be the -618 Fib. Stops will be moved to break even upon reaching target 1. If there is no confirmation of price being rejected at resistance then I will sit aside on the sidelines.
And the important part now, stops will be above the high (100.38)
And as always I will wait for confirmation on the lower time frames.
Happy Trading traders, always remain flexible to the changing market dynamics. =)