Short

Potential Head & Shoulders on DXY

Updated

Normally you see a H&S at the end of a bull run, instead of a corrective structure. But the concept should be the same?
Anyway, it looks like we may be creating a potential right shoulder as we speak. We were expecting a correction before continuation to the downside, right?
If this happens, the price will be pushed back into the HTF bearish structure with potential continuation to the downside. And will allow for clean trades on USD pairs.

Let me know your thoughts.

Note

Finally got that downward push. Now just hoping we get the continuation I was hoping for.

DXY breaking key support zones.

Note

All trades are in good profit thanks to DXY. It is the only thing I am watching today as it will signal me to stay in all my trades or early exit.

Assuming we get continuation from DXY, then I'll let the trades ride and see if they can reach the targets.

USDCAD TP1 already hit. But honestly looks a little weak.

GBPUSD TP1 already hit.

GBPJPY Entered a little late on this one. A little choppy but at least going in the right direction.

EURUSD Entered before the breakout and scaled in a little while back.

Note

DXY is consolidating within an order block. Really need it to break this order block for USD pairs to continue up.

Note

Nice break below the order block. Initial pullback but hopefully it can continue downwards.

GU TP4 Hit
GJ TP2 Hit
EU TP1 Hit
ECAD TP1 Hit

Note

Again focusing on the DXY chart. Now consolidating in a new order block. Hopefully this can break down and continue further. I am still looking for larger profits.

GU TP4 Hit
GJ TP3 Hit
EU TP1 Hit
ECAD TP1 Hit

The measured move is still 150 pips below this new order block.

Note

Today's update on DXY is here

AfterlifeTrading

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