DXY Short Term Bearishness
Market structure showed a shift lower twice, and indication of downtrend continuation. Daily chart printed multiple rejection followed by thursday bearish engulfing candle. I anticipate price trade to or below the 50% level of the uptrend price range before buliishness resumes or we see downtrend continuation.
I would like to see a pullback to my entry A or B. Entry A is in confluence with 50% pullback level, MA and Trendline.
A break above Entry B which would invalidate the above confluences therefore, I would pause to see price in action.
If you trade patterns, DXY already formed a Diamond Top at mid of previous week.
I would like to see a pullback to my entry A or B. Entry A is in confluence with 50% pullback level, MA and Trendline.
A break above Entry B which would invalidate the above confluences therefore, I would pause to see price in action.
If you trade patterns, DXY already formed a Diamond Top at mid of previous week.
Related publications
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.