649bruno
Long

DXY: Buy Signal On Hour Chart

TVC:DXY   US Dollar Currency Index
44 2 7
DXY-has signaled a buy signal on the hour chart.
For the three indicators above the chart......
The RSI / Stochastic indicator (top) hit bottom and has headed up.
Vortex (middle) is bullish , green over red.
The phase energy (lower) is above zero and green, indicating buying pressure.
Prices are trading above the Ichimoku Cloud , prices are above the (red) cloud conversion line, prices are above the cloud (black) baseline,
(the baseline and conversion lines are also rising, indicating upwards momentum)
,
and the Alligator has opened its jaws and is feeding in the uptrend.

Targets: based on the one hour chart,:
1st Target: Fibonacci retracement .382. (94.99).
2nd Target: 50% retracement (95.28).
3rd Target:: Fibonacci . 618 retracement (95.57).

At each target I would check the primary indicators to determine if they are still strong, or fading.

As always, good luck to you on all your trades. Don.


It looks like it will go down in short term!
Reply
649bruno MarkMP
Thank you for your comment. DXY hit 94.91 and then reversed. There were indicator warnings when this happened to guide me (so I could exit). These three things happened at the same time: 1. The RSI (top indicator) peaked near 90 and then rolled over (indicating selling pressure), 2. Vortex (middle indicator) went negative (red over green), and , most importantly, 3. The phase energy (lower indicator) crossed over the zero line heading down. The original first Fibonacci projection was 94.99, so I consider 94.91 as a red flag area because the indicators I use were flashing sell signals very near Fibonacci .382.
Again, thank you for you comment. Don.
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