In Daily Chart, I find an interesting combo of Usdollar index, which is favor of my previous idea on rebounding DXY.
There is also a bearish cypher targeting to 12130, a mid-term goal which may cost at least 2-3 weeks to reach.
Besides harmonic pattern, classical pattern head and shoulder also gives a bullish bias, though it is in progress.
Thus we may adapt our trading plan in following phrases:
Phrase 1: Watch prcie action near 12000.If fail to stand above, hold bearish idea till around 11870 level.
Phrase 2: If Price get support near 11870, creating a higher low point, proper time to hold bullish idea, with TP1 at 12000 level, TP2 at 12130, also the D point of Cypher pattern.
Phrase 3: If there is good FA factors relate with tax reform etc, watching TP3 near 12236, otherwise, check short opportunities near 12130
It can be regarded as a specifc trading plan even u check the chart of DXY, which I mentioned in my previous post below
There is also a bearish cypher targeting to 12130, a mid-term goal which may cost at least 2-3 weeks to reach.
Besides harmonic pattern, classical pattern head and shoulder also gives a bullish bias, though it is in progress.
Thus we may adapt our trading plan in following phrases:
Phrase 1: Watch prcie action near 12000.If fail to stand above, hold bearish idea till around 11870 level.
Phrase 2: If Price get support near 11870, creating a higher low point, proper time to hold bullish idea, with TP1 at 12000 level, TP2 at 12130, also the D point of Cypher pattern.
Phrase 3: If there is good FA factors relate with tax reform etc, watching TP3 near 12236, otherwise, check short opportunities near 12130
It can be regarded as a specifc trading plan even u check the chart of DXY, which I mentioned in my previous post below
Note
Check the bearish bat of the index, watch the support level at 11980 near rising trend line
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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.