Dear Traders,
The Dollar, one chart that can make or break your trading week.
For the upcoming week, a pullback in the Dollar is expected, however fundamentals are pushing it through the roof. Last week, I started positioning myself at Dollar Shorts to trade the pullback from both fresh Monthly Supply & fresh Daily Supply.
On the screenshot, price is sitting in the daily supply zone and IF a pullback strats around this area, .382 fibonacci is used as first target. To add on shorts, I need to see way more confirmation to the downside for the Dollar, due to the strong bullish momentum last week.
Normally the DXY is a chart that I find easy to predict but due to the stock market situation and the China challenges, the Dollar can easily continue higher.
Game plan; Due to the lack of slowing down, wait for a clean 4hour or 1hour price-action pattern indicating price is consolidating and respecting the zone. Closely watch EUR/USD, AUD/USD & NZD/USD for quick long plays when the DXY is confirming our shorts. The NC 1hour strategy would be enough for full confirmation.
The Dollar, one chart that can make or break your trading week.
For the upcoming week, a pullback in the Dollar is expected, however fundamentals are pushing it through the roof. Last week, I started positioning myself at Dollar Shorts to trade the pullback from both fresh Monthly Supply & fresh Daily Supply.
On the screenshot, price is sitting in the daily supply zone and IF a pullback strats around this area, .382 fibonacci is used as first target. To add on shorts, I need to see way more confirmation to the downside for the Dollar, due to the strong bullish momentum last week.
Normally the DXY is a chart that I find easy to predict but due to the stock market situation and the China challenges, the Dollar can easily continue higher.
Game plan; Due to the lack of slowing down, wait for a clean 4hour or 1hour price-action pattern indicating price is consolidating and respecting the zone. Closely watch EUR/USD, AUD/USD & NZD/USD for quick long plays when the DXY is confirming our shorts. The NC 1hour strategy would be enough for full confirmation.