Completion of Bearish Shark Pattern with Exaggerated Bearish Divergence near the D point.
Development of Head & Shoulders pattern near D point along with Wyckoff Distribution prior to the price drop.
DXY is bullish; therefore bullish continuation is expected after a potential reaction from 0.618 Fibonacci retracement level. The 1.26200 level could also be targeted for market rebalance prior to bullish continuation.
Development of Head & Shoulders pattern near D point along with Wyckoff Distribution prior to the price drop.
DXY is bullish; therefore bullish continuation is expected after a potential reaction from 0.618 Fibonacci retracement level. The 1.26200 level could also be targeted for market rebalance prior to bullish continuation.
Trade closed: target reached:
Target at 61.8% retracement level reached. Potential trade opportunity for entry at imbalance fill is still on the table.
Trade active:
The buy entry at 1.26200 has triggered for bullish movement at least to resistance level at 1.27550
Trade closed: stop reached:
It looks like price pushed down below the SL to take out liquidity at the "x" and it is also forming a bearish shark pattern.