📌 Current Market Context
DXY is trading at 107.023, slightly above the 61.8% Fibonacci retracement level (106.344).
This level is a key golden ratio support, where strong reversals often happen.
The uptrend from Sept 2024 suggests that bulls are still in control unless this retracement turns into a full reversal.
📈 Bullish Trade Idea (Buy Setup)
✅ Entry: Look for bullish price action (rejection wicks, engulfing candles, or a strong bounce) near 106.344 - 106.500.
🎯 Targets:
Target 1: 108.035 (78.6% Fib)
Target 2: 110.189 (previous high)
📍 Stop-Loss: Below 105.800 (just under 61.8% retracement to avoid stop hunts).
📊 Risk/Reward: ~1:2 or better.
📉 Bearish Trade Idea (Sell Setup)
❌ Trigger: If DXY closes below 106.344 on a daily candle, it could signal further downside.
📉 Entry: Sell below 106.200 after confirmation.
🎯 Targets:
Target 1: 105.156 (50% Fib)
Target 2: 103.968 (38.2% Fib)
📍 Stop-Loss: Above 107.000 (to avoid fakeouts).
📊 Risk/Reward: 1:2 minimum.
🛠️ Risk Management Notes
Watch for fundamental news (FOMC, inflation data, rate decisions) that could cause volatility.
Use partial take profits to secure gains along the way.
If entering a buy trade, consider trailing stops once price reaches 108.035.
DXY is trading at 107.023, slightly above the 61.8% Fibonacci retracement level (106.344).
This level is a key golden ratio support, where strong reversals often happen.
The uptrend from Sept 2024 suggests that bulls are still in control unless this retracement turns into a full reversal.
📈 Bullish Trade Idea (Buy Setup)
✅ Entry: Look for bullish price action (rejection wicks, engulfing candles, or a strong bounce) near 106.344 - 106.500.
🎯 Targets:
Target 1: 108.035 (78.6% Fib)
Target 2: 110.189 (previous high)
📍 Stop-Loss: Below 105.800 (just under 61.8% retracement to avoid stop hunts).
📊 Risk/Reward: ~1:2 or better.
📉 Bearish Trade Idea (Sell Setup)
❌ Trigger: If DXY closes below 106.344 on a daily candle, it could signal further downside.
📉 Entry: Sell below 106.200 after confirmation.
🎯 Targets:
Target 1: 105.156 (50% Fib)
Target 2: 103.968 (38.2% Fib)
📍 Stop-Loss: Above 107.000 (to avoid fakeouts).
📊 Risk/Reward: 1:2 minimum.
🛠️ Risk Management Notes
Watch for fundamental news (FOMC, inflation data, rate decisions) that could cause volatility.
Use partial take profits to secure gains along the way.
If entering a buy trade, consider trailing stops once price reaches 108.035.
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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.
🚀 Your Journey to Financial Freedom Starts NOW! 💸🔥
🟩 Discord: edge.forex
🟩 Telegram: t.me/edge_forex_public
✅ Our Verified Results: 📈
fxblue.com/users/roadtoamillion-hr
fxblue.com/users/roadtoamillion-mr
🟩 Discord: edge.forex
🟩 Telegram: t.me/edge_forex_public
✅ Our Verified Results: 📈
fxblue.com/users/roadtoamillion-hr
fxblue.com/users/roadtoamillion-mr
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.