U.S. Dollar IndexShort
DXY Bearish
Market Structure: DXY is in a downtrend making lower highs and lower lows and approaching a key level (resistance, downtrend line, swing high) and there is likely an accumulation of buy orders which are made up of breakout traders and stop losses of short positions. This accumulation of orders creates enough liquidity for the market to match orders at this high point before positioning to go lower.
Trade: Wait for price to close above the swing high point and enter short on a sell stop @ 130.572
Trade: Wait for price to close above the swing high point and enter short on a sell stop @ 130.572
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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.
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.