DXY price action *UPDATE*
In my most recent post I outlined some expectations for price and how it would need to move to support a bias. Right now it is sitting under a target I had outlined and shared for over a week now. Because we are in what I would call a target zone, it’s vital that I sit on my hands at this point. This means no button pushing only observation. The candles will expose what direction they want to go. This is the time to preserve capital to profit off of the moves it’s going to make. I have outlined two yellow lines as a sort of short term consolidation zone. It looks like liquidity is being generated in this zone, which is to be expected considering we are in a target zone at the moment. I am adding a stipulation for me to form a bias that I need to see price move out of this short term range. I won’t be trading this range because it is small and price could break out of it at any given moment. This chart is to help you guys to see that price isn’t moving sideways for no reason. The candles are loading to make a move. Also consider it’s Thursday. We have only one more trading day for this week so it’s especially important to be patient. This is the time that they want to get back some of the money they lost to profitable traders this week. This can lead to wacky price moves and deception from the market makers. If this was helpful please leave a like and feel free to follow. I’m pretty active on here so stay tuned for my next update.
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