Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 DXY has been overall bullish, trading within the rising wedge pattern in red.
At present, DXY is approaching the upper red trendline acting as a non-horizontal resistance.
Moreover, it is retesting a strong resistance zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline.
📚 As per my trading style:
As #DXY is around the red circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📈 DXY has been overall bullish, trading within the rising wedge pattern in red.
At present, DXY is approaching the upper red trendline acting as a non-horizontal resistance.
Moreover, it is retesting a strong resistance zone marked in green.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline.
📚 As per my trading style:
As #DXY is around the red circle zone, I will be looking for bearish reversal setups (like a top bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich