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CandlesofKarma
Aug 12, 2022 12:03 PM

DXY Trend Technically Broken ? 8/12/22 Analysis 

U.S. Dollar Currency IndexTVC

Description

I wanted to post this analysis for educational purposes. A lot of traders base their trades on trendlines to understand that the market is trending. Just because a trendline is broken, it doesnt necessarily mean a trend is broken as you can see here for the dollar index.

Comment

It is imperative to look for confirmations on the lower timeframe to ensure price has formed a strong market structure for this break. If you know this pair well, you can also use a price filter.

Comment

Heavy momentum coming back into the channel

Comment

As you can see the trend has not been broken yet even thou price broke the trendline.

Comment

We have now broken back into the channel
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