USDX TRADE IDEA
Updated
hi all
Im expecting a drop following a breakout of previous weekly resistance 103.216, but the USDX maintained its momentum and ended the week at 104.366.
The price is close above my resistance level from the last trade plan. Therefore, to limit losses, I either cut after the market opens or wait till after US open and watch the price action.
On the weekly chart, I can see that the head and shoulders pattern and neckline 1 have already broken out, so this week, I'm interested in seeing whether the price in towards NFP or whether it will correct to wave B.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
Im expecting a drop following a breakout of previous weekly resistance 103.216, but the USDX maintained its momentum and ended the week at 104.366.
The price is close above my resistance level from the last trade plan. Therefore, to limit losses, I either cut after the market opens or wait till after US open and watch the price action.
On the weekly chart, I can see that the head and shoulders pattern and neckline 1 have already broken out, so this week, I'm interested in seeing whether the price in towards NFP or whether it will correct to wave B.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
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