Long

Updated

DXY Possible Bullish Flag Resolution (Long)

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

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.

AATONY

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AATONY