Some of you might say,
Hey, at least we are now at the top! Dollar shall fall!
Well, how many times have you seen people calling Dollar topped?
By fibs, we've seen 23.6%, 38.2%, 50%, 61.8%, 78.6%, 88.6% have been all supposedly "the top" for dollars.
The truth is that while all these levels could have been candidates for the ceiling of the dollars, but they have not been ones.
So what am I trying to say? Follow the trend! Sell at supposedly "Tops" and watch the price bounce at certain support point and go long!
If you have continuously bet dollar longs, market would have been kind to you, and it will until it switches back.
If you're in here for money, then there's absolutely NO reason for you to find the exact bottom!
The only reason people want to find exact bottom is because of their greed. The greed that will cost you more than what you would earn.
Let the chart unfold itself, and be patient!
Now, on to DXY.
we are seeing a bit of, what I call, "Overthrow".
We don't know if we are heading down in a long term,
but let's just pretend that it's one of the correction legs.
Yet, we cannot really tell whether it's going to be flat (meaning double top) or expanded flat! (Break the top and then vigorous sale!)
What I would do if I were you, I'd long and set sort of a ceiling where you will just stop trading and watch the price action.
Be careful when you're listening to individuals opinion about this or that price level being the top!
Including myself, and whoever, we all don't know!
Good Luck!
Hey, at least we are now at the top! Dollar shall fall!
Well, how many times have you seen people calling Dollar topped?
By fibs, we've seen 23.6%, 38.2%, 50%, 61.8%, 78.6%, 88.6% have been all supposedly "the top" for dollars.
The truth is that while all these levels could have been candidates for the ceiling of the dollars, but they have not been ones.
So what am I trying to say? Follow the trend! Sell at supposedly "Tops" and watch the price bounce at certain support point and go long!
If you have continuously bet dollar longs, market would have been kind to you, and it will until it switches back.
If you're in here for money, then there's absolutely NO reason for you to find the exact bottom!
The only reason people want to find exact bottom is because of their greed. The greed that will cost you more than what you would earn.
Let the chart unfold itself, and be patient!
Now, on to DXY.
we are seeing a bit of, what I call, "Overthrow".
We don't know if we are heading down in a long term,
but let's just pretend that it's one of the correction legs.
Yet, we cannot really tell whether it's going to be flat (meaning double top) or expanded flat! (Break the top and then vigorous sale!)
What I would do if I were you, I'd long and set sort of a ceiling where you will just stop trading and watch the price action.
Be careful when you're listening to individuals opinion about this or that price level being the top!
Including myself, and whoever, we all don't know!
Good Luck!
Note
To the tick!
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.
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.