DXYDXYDXYOur one-hour Euro position was opened without any attention to the DXY chart, which caused an error in recognizing the price trend.
But after realizing this issue and paying attention to the DXY structure. I noticed a stop-hunt level on the chart, which gave us a pullback on DXY to the 102.628 level, it also gives us a chance to exit profitably from the wrong direction.
It is important to check the DXY chart before starting any position on forex market. Like Bitcoin dominance in cryptocurrencies.
- Now, considering the valid 4-hour DXY channel, we expect that DXY intends to touch the bottom of the channel again. Of course, there are important levels along the way (102,068).
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