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Underlying:DXY
Time frame:1D
What Has Happened So Far:
Initially our trade was to buy the US Dollar when it hit the bottom end of the range and buy it back to the top, this worked very nicely! From there US Dollar broke out of the range to the upside. This is where we posted out second trade to get long.
What am I Looking to Happen:
Now the price of the US Dollar has re-tested the broken range (in orange) I believe we will see strength from here. Note how the 50MA also lined up nicely and acted as support. Two other things to note; the MACD and the Bollinger Bands. The MACD EMA's are now crossing over which I believe will lead to another bullish push. The Bollinger Bands Centre line has also begun to "turn upwards" in a show of strength for the US Dollar.
Target Profit:94.30
Stop Loss:92.50
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Original Chart:
Underlying:DXY
Time frame:1D
What Has Happened So Far:
Initially our trade was to buy the US Dollar when it hit the bottom end of the range and buy it back to the top, this worked very nicely! From there US Dollar broke out of the range to the upside. This is where we posted out second trade to get long.
What am I Looking to Happen:
Now the price of the US Dollar has re-tested the broken range (in orange) I believe we will see strength from here. Note how the 50MA also lined up nicely and acted as support. Two other things to note; the MACD and the Bollinger Bands. The MACD EMA's are now crossing over which I believe will lead to another bullish push. The Bollinger Bands Centre line has also begun to "turn upwards" in a show of strength for the US Dollar.
Target Profit:94.30
Stop Loss:92.50
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Original Chart:
