DXY Higher High with a possible fake breakout?
Updated
DXY is inside an uptrending channel. Price is attempting a breakout at the 1hr level. With tenken sen pointing downwards and kijun sen facing upwards, I expect price to go back up and attempt a breakout to the upside and meet kijun sen at the 1hr level. If this were to happen, it represents a reflection point on the channel and DXY could attempt to make a higher high after a recent run of higher highs and higher lows. If price fails to break $96 then it could fall into a sideways channel.
Entry: 95.70
SL: 95.45
TP1: 95.95
TP2: 96.20
Entry: 95.70
SL: 95.45
TP1: 95.95
TP2: 96.20
Trade active
Note
Price was rejected from the kumo cloud and has broken out of the cloud to the upside, will keep monitoring for bullish confirmation.Trade closed manually
SL hit in profit at 96.
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