Fairly new trader,
Publishing ideas to sharpen my skills and get feedback from more experienced traders. Any and all constructive criticism is appreciated.
I have the DXY setting up for a short move at or around 92.800. I speculate that it will short until the 92.00 area. What backs my bias is that on the 4H time frame the dollar has been selling off, it hit an area of support at the 92.00 area and that is experiencing a healthy pull back. I am anticipating that the pull back is near completion and that the selloff will happen next week if all my technical analysis aligns. If it breaks the 92.800 level I anticipate that it will rise to 93.400 area where it will reject and then sell off.
Publishing ideas to sharpen my skills and get feedback from more experienced traders. Any and all constructive criticism is appreciated.
I have the DXY setting up for a short move at or around 92.800. I speculate that it will short until the 92.00 area. What backs my bias is that on the 4H time frame the dollar has been selling off, it hit an area of support at the 92.00 area and that is experiencing a healthy pull back. I am anticipating that the pull back is near completion and that the selloff will happen next week if all my technical analysis aligns. If it breaks the 92.800 level I anticipate that it will rise to 93.400 area where it will reject and then sell off.
Trade active
Trade is currently active and on its way down on a bearish movement to price target of 92. The fundamental analysis for the USD is showing negative impact news, speculating the dollar down to continue bearish up until Tuesday September 14.Trade closed manually
Will be closing out of trade at the open of the market due to reversal on lower time frame. Take profit and waiting to see what the market will potentially give me. Will have a weekly outlook mark up post soon.
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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.