Next Week Trading Plan (DXY analysis)
we have drawn some high lows of weekly and monthly swings
after that,
we have spotted a chart pattern on 4h of DXY indicating it was head and shoulder (incomplete)
although the idea was the left shoulder of the pattern is bigger and on the right shoulder it will be shorter than the left shoulder
neckline comes at 104.510
first target will be 104.900 which is derived from the right shoulder length and
2nd target is at level of 105.300 which is the length of head
incase the first condition couldn't break through the neckline we then have to wait for price to retest the monthly and weekly support which is around 103.900 to 103.600
after that,
we have spotted a chart pattern on 4h of DXY indicating it was head and shoulder (incomplete)
although the idea was the left shoulder of the pattern is bigger and on the right shoulder it will be shorter than the left shoulder
neckline comes at 104.510
first target will be 104.900 which is derived from the right shoulder length and
2nd target is at level of 105.300 which is the length of head
incase the first condition couldn't break through the neckline we then have to wait for price to retest the monthly and weekly support which is around 103.900 to 103.600
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