possible DXY reversal - short GBPUSD
Updated
GBPUSD has divergence with DXY, EURUSD and USDJPY.
while DXY made lower lows, EURUSD made higher highs and UJ made lower lows (coincides with dollar move)
GBPUSD failed to make higher highs (shows possible distribution by larger funds). also this failure occured at a potential bearish order block.
stop loss is at indicated (30 pips above recent prior high).
while DXY made lower lows, EURUSD made higher highs and UJ made lower lows (coincides with dollar move)
GBPUSD failed to make higher highs (shows possible distribution by larger funds). also this failure occured at a potential bearish order block.
stop loss is at indicated (30 pips above recent prior high).
Note
sooo.. DXY did reverse, but GBPUSD went up. missed the fact that there was a news event today. Still not stopped out yet, have divergence on daily (which doesn't say much)Note
Looks like stop was chosen well
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