BlackBirdTrading

DXY at crucial point

Long
TVC:DXY   U.S. Dollar Index
Hello Birdies,

  • DXY was in range since 2014 and in doing so create a bullish rectangle pattern.
  • Which had a breakout in April 2022 now we are about to have a retest of the pattern.
  • If this is a success and we get a bounce from here it means bearish for indices and crypto.

Now if we see it from smart money concept we see that.

  • There is a monthly and weekly block above untested
  • And DXY also created an Inducement which is a term used by ICT to mention that there is a FVG above which will be taken
  • Means price will revet back to take liquidity so this gives strength to retest
Comment:
So we had a bounce from the area as mentioned in the idea

Comment:
The perfect bounce
Comment:
OMG this is holding and month is closing with an elephant candles
Comment:
The idea doing its magic... Double bottom in

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