Hi Mates, Doing weekly review on Dxy for trade posssibilities in coming sessions, So it Opened at 103.433 and after made weekly low of 103.013 then resumed an upward movement and took resistance at 103.981 levels came down and made a fresh support at 103.300 and after breaking that resistance hit a weekly high of 104.400 levels which was very close to a target mention in an idea published by me.
So still my Gut feeling is saying that it has much potential is remaining to go up from here too but in market feelings doesn't work we have to follow technical risk management and our mindset. So i will follow the mention levels on chart for taking a trade on daily candle closure basis only.
Trade Ideas-:
⚡Bullish scene- It can break weekly high resistance directly and can go to 105 levels.
⚡Bearish Or retesting scene- Can break support one and can go to support two or just below where it made a good base on this provided chart.
⚡Consolidation or Sideways scene- Might we can see a range bound play between resistance one and support one whole coming week.
MOVING AVERAGES-: (EMA)
Daily Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Weekly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Monthly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
RSI-:
Daily Chart- 70.91 (Bullish But Heated)
Weekly Chart- 56.28 (Neautral)
Monthly Chart- 55.14 (Neautral)
Key Strengths-:
Daily chart is improving, price tarding and close above last swing high resistance levels.
Weekly chart seems it is also ready for a bullish reversals we can see very soon in it.
Price trading above on all moving averages on Daily, weekly and monthly time frames.
Daily RSI is Bullish. Weekly Rsi crossed a major resistance levels.
Daily Improved chart-:
Weekly RSI BO-:
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
So still my Gut feeling is saying that it has much potential is remaining to go up from here too but in market feelings doesn't work we have to follow technical risk management and our mindset. So i will follow the mention levels on chart for taking a trade on daily candle closure basis only.
Trade Ideas-:
⚡Bullish scene- It can break weekly high resistance directly and can go to 105 levels.
⚡Bearish Or retesting scene- Can break support one and can go to support two or just below where it made a good base on this provided chart.
⚡Consolidation or Sideways scene- Might we can see a range bound play between resistance one and support one whole coming week.
MOVING AVERAGES-: (EMA)
Daily Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Weekly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Monthly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
RSI-:
Daily Chart- 70.91 (Bullish But Heated)
Weekly Chart- 56.28 (Neautral)
Monthly Chart- 55.14 (Neautral)
Key Strengths-:
Daily chart is improving, price tarding and close above last swing high resistance levels.
Weekly chart seems it is also ready for a bullish reversals we can see very soon in it.
Price trading above on all moving averages on Daily, weekly and monthly time frames.
Daily RSI is Bullish. Weekly Rsi crossed a major resistance levels.
Daily Improved chart-:
Weekly RSI BO-:
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Comment:
Support one break moving towards support below
Comment:
After breaking support one reach to support two got good short entry by good red candle, can touch the base formation support too.
Trade closed manually:
Bearish scenario mentioned in description worked somehow after break of support reached to support 2, touched mentioned base and hit previous week los too and Good bounce also seems from previous week lows, so now manually closing this trade idea. Will meet you guys with a new trade idea on it, Thanks to all for showing Great support to this idea.
