DXY Possible Bullish Flag Resolution (Long)
Updated
Hi Traders,
Spotted a bullish flag here on DXY 4H. Let's see if this shoots up. On a Weekly the index has broken out of a bullish wedge having a great momentum so far. There's still some room to go higher.
Good luck.
Tony
Spotted a bullish flag here on DXY 4H. Let's see if this shoots up. On a Weekly the index has broken out of a bullish wedge having a great momentum so far. There's still some room to go higher.
Good luck.
Tony
Note
A Closer look at 1H TF:
Note
The Index has broken the channel and has retested it.
Note
closer look at 15 min
Note
The idea is valid, the index is pushing higher in today's session.
Note
The index prints bullish within channel being at a lower band at the moment - a correction is possible here
Note
There was a fake break out from the 15min bull channel
Note
Hi Traders,
As you could spot on the previous snapshot, I have moved my original target for a flag/channel breakout from 103.34ish down to 103.200 as the actual breakout was ~102.500 (see pink "New Target Est.").
Note
At the moment DXY sides in the range 102.750 to 103.200 forming two diamonds consecutive or embedded patterns which normally would warn about possible reversal.
Note
The last diamond has reverted the index back into upwards momentum, so as before we are still targeting the same 103.250ish area.
Trade closed manually
Target Reached Trade closed: target reached
Technical status update: Target reached.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.