DOLAR INDEX POSSIBLE DOWNTREND
1- BUY CLIMAX "BCLX":The buying pressure culminates, where purchases are being absorbed.
2- AUTOMATIC RALLY "AR":Where the buying pressure has been exhausted a surge of sales can make the price fall, this fall in price helps us define the trading range "TR".
3- SECONDARY TEST "ST":Price revisits the "BCLX" Area .The volume and the price distribution should be significantly reduced as the market approaches the resistance in the "BCLX" Area.
4- UPTHRUST "UT": It is a test to the resistance, this type of test it is usually accompanied by volume and tend to breaks the resistance, and after this,
the price returns to the trading range, this is an indication that the volume that appeared is sales and not buys.
5- After an upthrust we should see a move down and we will have a test to the "UT" (a valid test is usually accompanied by small candles and small volume and usually goes to 50% of the down movement).
6- SIGN OF WEAKNESS "SOW": Sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume.
7. LAST POINT OF SUPPLY "LPSY": This point appears after a "SOW". It is the last attempt of the price to raise, although it can do it twice. It's a good point to look for sales.
2- AUTOMATIC RALLY "AR":Where the buying pressure has been exhausted a surge of sales can make the price fall, this fall in price helps us define the trading range "TR".
3- SECONDARY TEST "ST":Price revisits the "BCLX" Area .The volume and the price distribution should be significantly reduced as the market approaches the resistance in the "BCLX" Area.
4- UPTHRUST "UT": It is a test to the resistance, this type of test it is usually accompanied by volume and tend to breaks the resistance, and after this,
the price returns to the trading range, this is an indication that the volume that appeared is sales and not buys.
5- After an upthrust we should see a move down and we will have a test to the "UT" (a valid test is usually accompanied by small candles and small volume and usually goes to 50% of the down movement).
6- SIGN OF WEAKNESS "SOW": Sign of weakness, observable as a down-move to (or slightly past) the lower boundary of the TR, usually occurring on increased spread and volume.
7. LAST POINT OF SUPPLY "LPSY": This point appears after a "SOW". It is the last attempt of the price to raise, although it can do it twice. It's a good point to look for sales.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.