4/7/24 DXY analysis (continued) PT.2
Now looking at the daily timeframe I have marked out levels of support as well as areas that further support a bullish bias. Let's go over them.
- The grey boxes are daily bullish FVG that have been respected.
- The first respect was on 3/21/24 and we saw a bounce in price to take out the daily FVG stop marked on the chart.
- The price move that took out the FVG stop created a bullish FVG that was respected on 3/26/24. This bounce took us to a new high.
- NFP news sent us lower again into that same Bullish FVG and we swept a weekly low
*Weekly lows/ highs are important liquidity points.
- We swept the weekly low BUT it was respected because of the bullish FVG.
- This is further reason to continue to look for bullish scenarios for DXY.
- Blue line is my personal target for DXY buys.
- We also have a double top marked by two red arrows. This can be used as kind of a first target for buys. Once these highs are reached im looking for buys to accelerate.
***THIS IS NOT FINANCIAL ADVISE***
That being said im looking for a bullish DXY
- The grey boxes are daily bullish FVG that have been respected.
- The first respect was on 3/21/24 and we saw a bounce in price to take out the daily FVG stop marked on the chart.
- The price move that took out the FVG stop created a bullish FVG that was respected on 3/26/24. This bounce took us to a new high.
- NFP news sent us lower again into that same Bullish FVG and we swept a weekly low
*Weekly lows/ highs are important liquidity points.
- We swept the weekly low BUT it was respected because of the bullish FVG.
- This is further reason to continue to look for bullish scenarios for DXY.
- Blue line is my personal target for DXY buys.
- We also have a double top marked by two red arrows. This can be used as kind of a first target for buys. Once these highs are reached im looking for buys to accelerate.
***THIS IS NOT FINANCIAL ADVISE***
That being said im looking for a bullish DXY
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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.
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.