US Dollar Bounce & What It Means For Gold!
Hey Traders, I am seeing a new Macro Trend Beginning on US Dollar Index 0.08%. If you are not sure what my conditions are for a trend reversal, Please check out my recent tutorial on
"How to read structure (Charts) Tutorial. Charts 1-5" (Linked Below In related ideas). I think the dollar is setting up for a small bounce here and this may cause a pullback in the metals. I do think the dollar will most likely remain in its daily downtrend and Gold -0.13%will remain in its daily Uptrend but this is a good opportunity for a short term long position in the Dollar index 0.01%. Price has broke and close above its previous high twice followed by a nice pullback giving us a good entry. I will be looking for two targets on this trade. If target 1 is reached, I will be looking to roll stops up to my entry price to lock In profits.
Entry- 12207.00
Target 1- 12240.00
Target 2-12272.00
"How to read structure (Charts) Tutorial. Charts 1-5" (Linked Below In related ideas). I think the dollar is setting up for a small bounce here and this may cause a pullback in the metals. I do think the dollar will most likely remain in its daily downtrend and Gold -0.13%will remain in its daily Uptrend but this is a good opportunity for a short term long position in the Dollar index 0.01%. Price has broke and close above its previous high twice followed by a nice pullback giving us a good entry. I will be looking for two targets on this trade. If target 1 is reached, I will be looking to roll stops up to my entry price to lock In profits.
Entry- 12207.00
Target 1- 12240.00
Target 2-12272.00
Trade stängt: Stopp nått:
The setup was valid but unfortunately we cant win them all!
