I remain optimistic about the DXY and anticipate that its upward trajectory will persist, potentially tapping into significant Buy Side liquidity. Currently, I am monitoring two scenarios. The first involves a potential retracement back to 102.742 on either Monday or Tuesday, followed by a market ascent later in the week. The alternative scenario entails an initial upward movement to around 103.247, subsequent retracement to clear out some sell side liquidity, possibly touching upon a weekly IFVG and then embarking on an upward rally.
Given these possibilities, I intend to adopt a risk-off strategy, focusing primarily on short positions in major indices and the EUR/USD currency pair. I'll keenly observe how the market unfolds in the coming days.
Given these possibilities, I intend to adopt a risk-off strategy, focusing primarily on short positions in major indices and the EUR/USD currency pair. I'll keenly observe how the market unfolds in the coming days.
Comment:
There is smt with EUR and DXY i need to see how NY open react to that then re evaluate idea
Comment:
currently following the plan also in my opinion smt is no more now
Comment:
getting more bullish i got my share in Nasdaq and done for day. lets wait and how Daily closing go
then will re evaluate is DXY is more bullish or we can get some sort retracement
then will re evaluate is DXY is more bullish or we can get some sort retracement
Comment:
During the initial two days of the week, there was an initial upward rally that encountered resistance at 103.247. This movement aligned with my expectations of an initial upward run followed by a retracement within the week. However, the closing didn't align with my intended outcome. Today, we are anticipating the release of the FOMC minutes, and I intend to exercise caution until the minutes of the meeting are made public. Additionally, I've good short opportunities in the Nasdaq over the past two days.
Comment:
Continuing its upward trajectory, I'm anticipating a movement towards the 103.572 mark. It will be intriguing to observe the market's response at this point, gauging whether the upward momentum persists or a retracement occurs. My primary attention will be directed at the Nasdaq, where I'll be actively seeking shorting opportunities once again.
Comment:
so far a got a nice rejection from 103.572
now for upward rally need price should not close on 4 hour below 103.031.
this area will nice to support
now for upward rally need price should not close on 4 hour below 103.031.
this area will nice to support
Trade closed: target reached:
Having achieved our primary goal of buy-side liquidity, I'll approach the next week with caution, closely monitoring price shifts. We could either sustain current levels or encounter a potential downward trend. To solidify my perspective, I'll require additional price action data for a more well-informed conclusion.
