DXY UNDERSTANDING PATTERENS CORRECTLY
Updated
Hi guys,
I hope you had a great weekend.
I just thought I might show you what types of patterns we are looking for in pairs. We look for patterns. As of right now, DXY is creating an ABC pattern. Price was trading in a bear correction after bull impulse, and price supported at Fibonacci key retracement level, major moving average support AND sideways corrective structural support, showing that buying here is likely a good idea.
Will update this chart on 240, so like and follow to receive instant notifications of when I update this idea.
Thank you for your support.
I hope you had a great weekend.
I just thought I might show you what types of patterns we are looking for in pairs. We look for patterns. As of right now, DXY is creating an ABC pattern. Price was trading in a bear correction after bull impulse, and price supported at Fibonacci key retracement level, major moving average support AND sideways corrective structural support, showing that buying here is likely a good idea.
Will update this chart on 240, so like and follow to receive instant notifications of when I update this idea.
Thank you for your support.
Note
Price is testing bottom structure. Will it test the bottom? Or will price break structure and negate this trade? If it negates, we can look for short positions.Thank you for your support.
Note
Price is still testing within structure, price is argumentatively neutral still, until it breaks structure up or down. Down invalidates any buys, a breakout to upside confirms a buy after the deep correction.Use your tested trading strategy to find the best buys.
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