Looking at DXY, We can see that price is approaching the value Area correctively. What I will be looking for is a Break of the value Area and therefore wait for a continuation pattern to the downside. The 2nd scenario which I am anticipating is price bouncing from the Value Area and wait for a continuation pattern to the upside, and our first target will be at the...
Price gave us a Double Top structure and I am now anticipating price to be bearish. Price has moved impulsively to the downside and I am now looking for a bigger correction to form because price is at the amber zone(Orange), so it is likely riskier if a smaller correction is formed because it will tend to be a trap and create a big correction.
Looking for sells, when looking at a bigger structure, an ascending channel is formed. SO this means sellers will be taking over for long time. After a breakout there was another ascending channel which confirms that sellers have more pressure, our trade will be validated once price break our ascending channel.
We looking to short the pair, price was in an impulsive move to the downside and created a correction after an impulse. We will be waiting for a candlestick to close below the structure and we will be entering our positions.
