This trade has a little more detail.
I have a Huge buy bias for DXY which is the DOLLAR.
Reason being from fundamental analysis. (news).
In summary Dollar had some positive economic news.
So because this is my bias I am looking for where fundamental and technical analysis agrees.
I am only looking for sells.
**Only downside is how strong sell momentum is so entry is very key here I believe patience is key and even if price goes my
way I may not enter without an extra confirmation such as a retest or price action.**
Reasons for entry:
-Moving average above price
-Downtrend
-Fundamental News
Where to enter:
-At 1.38 level, if price retraces.
-At 1.375 If price closes below and retests.
I have a Huge buy bias for DXY which is the DOLLAR.
Reason being from fundamental analysis. (news).
In summary Dollar had some positive economic news.
So because this is my bias I am looking for where fundamental and technical analysis agrees.
I am only looking for sells.
**Only downside is how strong sell momentum is so entry is very key here I believe patience is key and even if price goes my
way I may not enter without an extra confirmation such as a retest or price action.**
Reasons for entry:
-Moving average above price
-Downtrend
-Fundamental News
Where to enter:
-At 1.38 level, if price retraces.
-At 1.375 If price closes below and retests.
Trade closed: target reached:
BIG WIN.
Clean trade amazing confluence and price shot in my direction around 400 pips profit.
Clean trade amazing confluence and price shot in my direction around 400 pips profit.
Comment:
W