In my last DXY forecast "We hit TP2 in that Cypher .... now what? ST and LT forecast" the trade was bear it in 101.1 or 101.7 (the top blue to line). After sparkling CPI and Retail Sales the DXY made a fast aggressive move touching the top of the thin pink channel, and then we had been experiencing a continued bear move downwards taking us to the bottom of the black channel projected before. Right now we´re there arriving the 61.8 Fibo retracement in the Cypher we´re trading since last week. I really dont think we´re going to arrive that 0.382 Fib retracement, but you know, is now what you think, is what you see and what you get.
So, if my strategy is trading top and bottom channels, our next move will be bull again, but first we will need to break the bear trend we´re in right now. So for this trade EP will be 100.78 or above that yellow line, SL 100.57 TP1 101.35, TP2 102.10. Remember that fridays are transition days and traders like to clean the table, so probably we will see this forecast executed next week.
So, if my strategy is trading top and bottom channels, our next move will be bull again, but first we will need to break the bear trend we´re in right now. So for this trade EP will be 100.78 or above that yellow line, SL 100.57 TP1 101.35, TP2 102.10. Remember that fridays are transition days and traders like to clean the table, so probably we will see this forecast executed next week.
Trade active:
THIS IS PLAN A
Comment:
Hit EP. Wait for 11 a.m. to make your trade. Remember is friday.
Trade active:
Ready for TP1?
Trade active:
TP1 hit
Trade closed: stop reached:
TP1 hit ...... hold your fingers and wait for price action for TP2
