DXY demanding area to buy it, Read caption for more...
Hello fellow traders share your opinions about this setup thanks for your support.
I have prepared this chart and it represents DXY on a 4-hour timeframe, more you can read bellow.
1. Price Channel (Yellow Zone): The price is moving within an ascending channel, indicating a short-term uptrend.
2. Resistance Zone (Red Area): Positioned near the 110.500 level, this acts as a potential area where the price may face selling pressure.
3. Demand Zone (Green Box): Located around 109.100, this serves as a support level where buyers might step in.
4. Support Zone (Lower Green Box): Positioned around 107.500, it provides a more significant area of demand.
5. Target Zone (Blue Box): Highlighted as a potential area where the price may rebound to if it bounces off the demand zone.
Shortly the price may be bullish from the current area if not then it has a demand zone between 109.032 to 109.228
Key levels
DXY buy from 109.200- 109.500
Target at 109.850
SL at 108.821
Note; This is for educational purpose not a trading advice.
Kindly support me like comment and share the ideas.
I have prepared this chart and it represents DXY on a 4-hour timeframe, more you can read bellow.
1. Price Channel (Yellow Zone): The price is moving within an ascending channel, indicating a short-term uptrend.
2. Resistance Zone (Red Area): Positioned near the 110.500 level, this acts as a potential area where the price may face selling pressure.
3. Demand Zone (Green Box): Located around 109.100, this serves as a support level where buyers might step in.
4. Support Zone (Lower Green Box): Positioned around 107.500, it provides a more significant area of demand.
5. Target Zone (Blue Box): Highlighted as a potential area where the price may rebound to if it bounces off the demand zone.
Shortly the price may be bullish from the current area if not then it has a demand zone between 109.032 to 109.228
Key levels
DXY buy from 109.200- 109.500
Target at 109.850
SL at 108.821
Note; This is for educational purpose not a trading advice.
Kindly support me like comment and share the ideas.
Trade closed: target reached
here market touched 109.760 then it came down to the demand zone
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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.
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.