Previously on DXY.........
We had identified the potential for a retracement back into bearish move and we had highlighted some key point surrounding order flow.
fast-forward
Price action is chilling at the range midpoint, probably waiting for someone else to make the first move. Recent price action has been pretty efficient on approach, which sounds great until you realise that efficiency often means price can slip right through given enough volume.
The same goes for the area above current price. It’s weak, like my new year's resolutions. If the market decides to push, it won’t take much effort to break through.
Takeaways:
We had identified the potential for a retracement back into bearish move and we had highlighted some key point surrounding order flow.
fast-forward
Price action is chilling at the range midpoint, probably waiting for someone else to make the first move. Recent price action has been pretty efficient on approach, which sounds great until you realise that efficiency often means price can slip right through given enough volume.
The same goes for the area above current price. It’s weak, like my new year's resolutions. If the market decides to push, it won’t take much effort to break through.
Takeaways:
- Price will leave the range. Eventually. Just don’t expect it to RSVP first.
- Direction remains uncertain. Flip a coin? No. Wait for more data.
- We need more evidence before making informed decisions—unless you enjoy trading on pure gut
- And remember, stay hydrated, because watching your P&L evaporate is bad enough without your kidneys joining in.
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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.
Related publications
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.