Dollar Index - Weekly Make Or Break
Updated
Last week, we had a good run on buy stop liquidity @ the 104.550 level with the highs of the week being printed @ 104.976. This was expected as there was a fair value gap on the weekly timeframe around the 105 zone in which 
DXY got.
As a result, we have our first down close candle for the week for the past 5 weeks in
ES1! and 
NQ1! but not 
YM1! as this week will make it the second week price action closed as a doji but this will be covered once YM1! is reviewed.
This weeks price action is a sticky one to predict just yet as although I'm expecting further upside in
US10Y and a run on sell stops on ZB1!, it does not necessarily mean I automatically look for longs in TVC:DXY. From the 28th Dec 2023 to todays date, the overall market for DXY has been bullish from a macro perspective so it would be healthy to observe a minor retracement, like what we witnessed from Tuesday 13th Feb into Fridays 16:00pm US close with the lows being 104.168.
Ruling out further lows would be ignorant of me but ideally, I would want to see further accumulation of longs down to but no further than the upper displacement NWOG @ 103.865 but I will be more interested in engaging in shorts forES1! once the 104.053 - 104.024 hourly liquidity void is respected again.
With that being said, this could be the week we encounter a massive manipulation to the upside after accumulating longs before capitulating.
I mention this as next weeks news release will be wild; with CPI on Tuesday, FOMC on Wednesday and 9 red folders coming up into Thursday.
Fire will be in the boothe!
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
DXY got. As a result, we have our first down close candle for the week for the past 5 weeks in
ES1! and NQ1! but not YM1! as this week will make it the second week price action closed as a doji but this will be covered once YM1! is reviewed.This weeks price action is a sticky one to predict just yet as although I'm expecting further upside in
US10Y and a run on sell stops on ZB1!, it does not necessarily mean I automatically look for longs in TVC:DXY. From the 28th Dec 2023 to todays date, the overall market for DXY has been bullish from a macro perspective so it would be healthy to observe a minor retracement, like what we witnessed from Tuesday 13th Feb into Fridays 16:00pm US close with the lows being 104.168. Ruling out further lows would be ignorant of me but ideally, I would want to see further accumulation of longs down to but no further than the upper displacement NWOG @ 103.865 but I will be more interested in engaging in shorts for
ES1! once the 104.053 - 104.024 hourly liquidity void is respected again.With that being said, this could be the week we encounter a massive manipulation to the upside after accumulating longs before capitulating.
I mention this as next weeks news release will be wild; with CPI on Tuesday, FOMC on Wednesday and 9 red folders coming up into Thursday.
Fire will be in the boothe!
My philosophy is simple...
Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.
This includes;
- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!
The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.
Credits;
- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN
Note
With a weekly decline of close to 1%, we saw the Thursday 22nd price action create the majority of the downside movement where we saw the bullish order block @ 103.512 on the 1st Feb 2024 be respected before closing within the daily bullish buyside imbalance Sellside inefficiency
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