We've been tracking the DXY for a while now as it's rallied up into 2017 highs only to hold a structure followed by a break below, close below. This price action pattern allows me to make a bearish prediction with my personal tactic of entry being to wait for a pullback into previous structure resistance.
Our pullback has occurred & is currently looking to once again retest the highs of previous resistance which puts us at an interesting "decision point"
IF price can hold resistance again then it would be a positive sign for our short idea. HOWEVER, if price were to violate the highs, then we would be right back in bullish continuation mode with the next stopping point on my radar being 106.40's.
As always, if you have any questions or comments on this idea, feel free to leave them in the comment section below as I do read through each and every one of them.
Have a great rest of the week in the markets & an awesome weekend!
Akil
Our pullback has occurred & is currently looking to once again retest the highs of previous resistance which puts us at an interesting "decision point"
IF price can hold resistance again then it would be a positive sign for our short idea. HOWEVER, if price were to violate the highs, then we would be right back in bullish continuation mode with the next stopping point on my radar being 106.40's.
As always, if you have any questions or comments on this idea, feel free to leave them in the comment section below as I do read through each and every one of them.
Have a great rest of the week in the markets & an awesome weekend!
Akil
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