US Dollar IndexLong
DXY Trading plan
Updated
Here’s a more detailed
DXY
DXY Trading Plan:
- **Buy Entry:** Enter a buy position around **107.800**, watching for price action confirmation at this level.
- **First Target:** **108.000** – This is the immediate resistance and serves as a safe partial profit-taking level.
- **Second Target:** **108.300** – A key resistance level, ideal for booking the remaining profits.
Risk Management:
- If **107.800** fails to break out or shows signs of reversal, **close the trade immediately** to minimize potential losses. Look for candlestick patterns, rejection wicks, or bearish momentum as warning signs.
Additional Notes:
- Monitor DXY momentum and overall trend direction on the 1-hour timeframe.
- Keep an eye on related macroeconomic data or news events that could impact dollar strength.
DXY DXY Trading Plan:
- **Buy Entry:** Enter a buy position around **107.800**, watching for price action confirmation at this level.
- **First Target:** **108.000** – This is the immediate resistance and serves as a safe partial profit-taking level.
- **Second Target:** **108.300** – A key resistance level, ideal for booking the remaining profits.
Risk Management:
- If **107.800** fails to break out or shows signs of reversal, **close the trade immediately** to minimize potential losses. Look for candlestick patterns, rejection wicks, or bearish momentum as warning signs.
Additional Notes:
- Monitor DXY momentum and overall trend direction on the 1-hour timeframe.
- Keep an eye on related macroeconomic data or news events that could impact dollar strength.
Trade active
hitting the first target! 🎉 Here's a quick guide for the next steps:
### **What to Do Now:**
- **Trail Stop-Loss:** Move your stop-loss to just below **108.000** to secure profits from the first leg of the trade.
- **Monitor Momentum:** Watch price action closely as it approaches **108.300** (second target). Look for strong bullish candles or rejection wicks.
- **Partial Profits (Optional):** If you're unsure about the momentum, consider closing part of your position near **108.100** for a safer approach.
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