Alright my fellow traders and tradettes! This is my first market prediction (really more of an analysis) on what I potentially see coming from DXY.
Now as we can see it has broken below my channel so that indicates 2 things to me: 1. Selling pressure = bad economy, bad fundamental news, etc. or 2. Selling off to buy wayyyyy up!
Reason why? Well where price is currently sitting, its forming a Dojo candle. (Doji = indecision, usually a direction change on higher timeframes)
The sky blue box near current price represents a 2nd form of head-and-shoulders pattern, where we could see a push up to sell off even more (yes, double shoulders baby!)
If you notice where I have my TP level set, its actually the 50% of a FVG (fair value gap) that was merely filled when DXY began the rally up.
So what does the lil emoji dude have to do with this mark up? LOL
Well he's actually indicating an intermediate high that I wouldn't be surprised to see price come back to visit!
Plus I tapped into FF (Forex Factory) and didn't see any news for USD until February so I feel that could assist the rise of DXY to build up for the fall...
But again ladies and gents this is just a higher timeframe mark up, I am not expert. Just another young student in this market ocean with a harpoon looking to catch a Megalodon!
So all in all my bias on DXY: SHORT-TERM BULLISH / OVERALL BEARISH
And with that being said happy trading, trade well, and lets run it up from 2023 til infinity!
If you got some value out of this mark up please share it, boost it to your trading pals, and help grow the channel.
DISCLAIMER:
***This page is for educational purposes only and is not intended for any financial advise. I am not a financial advisor nor do I manage any other accounts for our users. Any trades you take will be of your own doing and P2P will not be held responsible.***
Now as we can see it has broken below my channel so that indicates 2 things to me: 1. Selling pressure = bad economy, bad fundamental news, etc. or 2. Selling off to buy wayyyyy up!
Reason why? Well where price is currently sitting, its forming a Dojo candle. (Doji = indecision, usually a direction change on higher timeframes)
The sky blue box near current price represents a 2nd form of head-and-shoulders pattern, where we could see a push up to sell off even more (yes, double shoulders baby!)
If you notice where I have my TP level set, its actually the 50% of a FVG (fair value gap) that was merely filled when DXY began the rally up.
So what does the lil emoji dude have to do with this mark up? LOL
Well he's actually indicating an intermediate high that I wouldn't be surprised to see price come back to visit!
Plus I tapped into FF (Forex Factory) and didn't see any news for USD until February so I feel that could assist the rise of DXY to build up for the fall...
But again ladies and gents this is just a higher timeframe mark up, I am not expert. Just another young student in this market ocean with a harpoon looking to catch a Megalodon!
So all in all my bias on DXY: SHORT-TERM BULLISH / OVERALL BEARISH
And with that being said happy trading, trade well, and lets run it up from 2023 til infinity!
If you got some value out of this mark up please share it, boost it to your trading pals, and help grow the channel.
DISCLAIMER:
***This page is for educational purposes only and is not intended for any financial advise. I am not a financial advisor nor do I manage any other accounts for our users. Any trades you take will be of your own doing and P2P will not be held responsible.***
