Adamfxm

bearish scenario on the dollar index

Short
TVC:DXY   U.S. Dollar Index
last week we have seen dollar break its monthly down trend with bulls taking us up to about a 103 in price, how ever as the week close i saw bears kicking back into the weekly lows, suggesting more sells for the index, i will like to see price back at 102.326, this might be a correction and it can also mean a continuation of bears run, however at the mean time lets trade what we see.

pattern - H&S
disclaimer - patterns do fail even tho they play out positive 80% of the time just like any other trading pattern or stretegy, risk management should be applied grievously,

what do you think of this setup? please lets know what you think.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.