Patriotic DXY - what you got?
The US Dollar Index;
Reading the market news and sentiment recently, I feel that many are anticipating a market crash imminently. However....
Can you guess what it is yet ;-)
Much like this symbol of the USA, can take what seems like a sure thing and spin it on it's head in the last quarter - I get the impression we are due to see another Stock Market Rally - one more go!
This means weakness for DXY to drop one more leg before we get the real stock drop and DXY rise in Q1 next year.
Spent a bit of time drawing this guy
I think a DXY drop will give a little fuel to a Bitcoin rise as well, near term before we get the final leg down once the DXY strength truly sets in.
Watch this space, I feel it will be a bumpy ride that is likely to catch a few!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Reading the market news and sentiment recently, I feel that many are anticipating a market crash imminently. However....
Can you guess what it is yet ;-)
Much like this symbol of the USA, can take what seems like a sure thing and spin it on it's head in the last quarter - I get the impression we are due to see another Stock Market Rally - one more go!
This means weakness for DXY to drop one more leg before we get the real stock drop and DXY rise in Q1 next year.
Spent a bit of time drawing this guy
I think a DXY drop will give a little fuel to a Bitcoin rise as well, near term before we get the final leg down once the DXY strength truly sets in.
Watch this space, I feel it will be a bumpy ride that is likely to catch a few!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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