DXY Bullish Channel Setup with 1:4.5 RRR (Entry 97.50 → Target 9

Chart Analysis

Trend:

Price is moving inside a rising parallel channel (marked in red with blue borders).

Currently near the mid-to-upper side of the channel.

Setup Highlighted:

Entry Point: Around 97.50 – 97.52 (support zone).

Stop Loss: Around 97.15 – 97.18 (below support and channel bottom).

Target Point: Around 98.97 – 98.98 (near channel top).

Risk-to-Reward Ratio (RRR):

Risk: ~0.33 points (97.50 → 97.18).

Reward: ~1.46 points (97.50 → 98.98).

RRR ≈ 1:4.5, which is a strong setup.

Price Action:

The chart suggests a retest of support (97.50 area) before a bullish continuation.

If buyers hold this level, upward momentum could push toward the 98.90–99.00 zone.

Invalidation:

A breakdown below 97.15 would invalidate the long setup and may push price toward 96.80 – 96.50 support levels.

📌 Summary

Bias: Bullish (as long as price holds above 97.15).

Plan: Wait for a pullback to the entry zone (97.50) for confirmation.

Target: 98.90 – 99.00.

Stop Loss: Below 97.15.

Strong RRR trade idea within the bullish channel.