Forming H&S +Cypher of Usdollar Index, Idea in Several Phrases
Updated
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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