Long

DXY - 4H - possible fractal repetition.

Updated

Not a financial advisor.

Currently looking at the DXY, seems that a possible pattern is being formed on the 4h.
If this Cup and Handle is successful, we can see DXY reaching the top of the channel...

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Last 4h candle closed above the neckline...
I was expecting a stronger break...as long as there is no fakeout the top of the channel would remain the target.

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This breakout does not look successful.
This fake out would mean a retest of the channel support line or the middle of the channel.

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Knock Knock....

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I would say, below 92.7 the pattern is no longer valid.
Even higher lows trendline in yellow seems to have been broken.
Awaiting for DXY to decide itself! :)

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Candle close above the yellow trendline maintaining the possibility of an uptrend and the pattern remain possible to be completed.

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I would have to consider this more an ascending triangle than a Cup and Handle!

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Playing as expected:

Trade closed: target reached

Reaching target... Trade closed!!

It is important to know IF downslopping resistance is broken ...
A BIG move can come for DXY!

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Trade closed: target reached

pedrogarrinhas

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