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JoE
Mar 22, 2020 10:53 AM

TEXT BOOK DIAMOND CONTINUATION PATTERN Long

United States 10 Year Government Bonds YieldTVC

Description

I can't believe what I am looking at, this is a Diamond Formation on U.S. Dollar Currency Index indicating that we may soon see USD to go way higher.
Currently I am shorting Chinese Yuan as they are likely in trouble with FX reserve due to recent halt on most industries, the country is extremely vulnerable under current situation.
BUT, this doesn't mean you cannot trade USD with other pairs, because what we are looking at here is the Dollar Index.
Pick any pair besides JPY which tends to be bought during RISK OFF times. Something to keep in mind is lack of liquidity, you don't want to trade minor pairs with high leverage.

This is not an investment advice, trade with care with your own risk!

Trade closed: target reached

Comments
lu1977hk
any view on the yen? USD/JPY?
JoE
@lu1977hk, Both USD and JPY will be racing to get higher, you shouldn't be in the game of trying to compare which will be faster than the other. Trade other pairs.
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