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U.S. Dollar Index
Long

DXY at crucial point

By BlackBirdTrading
Updated
Hello Birdies,

  • DXY was in range since 2014 and in doing so create a bullish rectangle pattern.
  • Which had a breakout in April 2022 now we are about to have a retest of the pattern.
  • If this is a success and we get a bounce from here it means bearish for indices and crypto.


Now if we see it from smart money concept we see that.

  • There is a monthly and weekly block above untested
  • And DXY also created an Inducement which is a term used by ICT to mention that there is a FVG above which will be taken
  • Means price will revet back to take liquidity so this gives strength to retest
Note
So we had a bounce from the area as mentioned in the idea

snapshot
Note
The perfect bounce
Note
OMG this is holding and month is closing with an elephant candles
Note
The idea doing its magic... Double bottom in
blackbirdtradingBullish RectangleChart PatternsDXYdxylong
BlackBirdTrading
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