goodguy

DXY:near term target and another example of using RSI for target

INDEX:DXY   US DOLLAR CURRENCY INDEX
The daily chart appears to likely have completed a triangle consolidation as I suspected on the previous post (see link below). On the weekly chart you see examples of bullish and bearish divergences in the RSI. On the daily chart we have 2 negative reversals (dashed lines) and the target each suggests which are basically the same. The "2" reversal is followed by a short bearish divergence (solid line). In my experience the two formation together increases the probability of downward price change to follow. We'll know soon. BUT remember probability is NOT certainty. There is no pattern or indicator that is always correct.
As always process your way and best to ya.
Also remember the RSI is based on the price close. So use the closing price for these calculations.
These ideas came from an excellent book: Technical Analysis for the Trading Professional by Constance Brown
면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.