DXY 5TH MAR
DXY what I'm seeing here on the hourly chart for the dollar index is we are inside of a bullish overall move that brought us into the supply area that we were looking for price to reverse from.
Now we have put in a short term range, I'm looking for the short term range to either play bearish below the previous swing low or to push higher and take out our longer term swing high.
Now for this, we will just be monitoring price depending on how it reacts at our area of demand and at our area of supply.
This of course will dictate the movement on our other pairs as you can see, the markups on our other pairs we have currently are mainly bearish, so I would be looking for price to drop into the demand to then push higher for it to correlate directly with those movements.
Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability.
If you like this idea, drop us a boost and a comment down below.
We hope you all have a profitable and successful trading week.
Now we have put in a short term range, I'm looking for the short term range to either play bearish below the previous swing low or to push higher and take out our longer term swing high.
Now for this, we will just be monitoring price depending on how it reacts at our area of demand and at our area of supply.
This of course will dictate the movement on our other pairs as you can see, the markups on our other pairs we have currently are mainly bearish, so I would be looking for price to drop into the demand to then push higher for it to correlate directly with those movements.
Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability.
If you like this idea, drop us a boost and a comment down below.
We hope you all have a profitable and successful trading week.
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