DXY You would have to go back 2-3 years in price action to find where a weekly candle on the DXY with no/next to no top wick closed like that, better hope to god it does not flip to create that top wick if you're short the DXY or you're finished.
We're looking at a 1% chance, and then a likely scenario where if it does, the next week just continues up to cover that imbalance anyway.
AUDUSD The weak low at .613, overall trend, liquidity not being swept & the impossible task price has shown to get above .629 & institutional short positioning is all the edge I need to keep shorting.
Until price closes strong 4H candles above .63 , this is not bullish.
Avoid making the mistake of using "fundamentals" outside the edge the chart presents to justify your bias and chase candles.
Wonder what we're all going to say if/when the DXY recovers, "oh its because X happened"...
... or was there an sign in the charts the entire time?
Just because I say .613 doe not mean im building some massive position to hold to .613, it may not come, though I believe it's likely, i'm simply using it as an edge to take shorts on pumps until price as I said above, closes strong above .63 - then I would consider longs on pullbacks.
AUDUSD Trump announced only probably 10% tarrif on China unless they negotiate. Much less than the 60% he promised during the election. For now, this makes AUDUSD undervalued. Longs make sense in my little brain