BUY ZONE APPROACHING - DXY / USD - HIGH PROBABILITY SETUP
Hello all,
I hope you are having a fantastic day and doing great!
We have a beautiful chart to look at today. This is an important one to understand as it provides context for all USD pairs.
I love it when things are clear; entry point, max risk and especially where if a line is crossed things are most likely breaking down and it is time to flip flop.
True trade masters are able to get out of positions quickly. Do not every be tied to your position intellectually or emotionally.
We know the USD is STRONG and there are plenty of signs around the world of dollar shortages. Remember, everyone's debt is in dollars and they need dollars to pay back the interest as well as buy everything namely oil.
Therefore we expect the current USD strength to continue, until the charts tell us differently.
Right now we have signs of a clear long entry signal setting up. Look for price to enter the BUY ZONE which is the 97.50 - 98.10 area.
The trend line highlighted in the chart above which notes above it price is extremely BULLISH.
High probability setup.
Entry: Between 97.50 - 98.10
Stop loss: 97.48
Target: 99.51
We also know exactly where the level is IF we are WRONG > always know where you are wrong and get out quickly.
A break below we exit the long position and look to reevaluate our bullish dollar view.
Have a great day!
Cheers,
JCL
I hope you are having a fantastic day and doing great!
We have a beautiful chart to look at today. This is an important one to understand as it provides context for all USD pairs.
I love it when things are clear; entry point, max risk and especially where if a line is crossed things are most likely breaking down and it is time to flip flop.
True trade masters are able to get out of positions quickly. Do not every be tied to your position intellectually or emotionally.
We know the USD is STRONG and there are plenty of signs around the world of dollar shortages. Remember, everyone's debt is in dollars and they need dollars to pay back the interest as well as buy everything namely oil.
Therefore we expect the current USD strength to continue, until the charts tell us differently.
Right now we have signs of a clear long entry signal setting up. Look for price to enter the BUY ZONE which is the 97.50 - 98.10 area.
The trend line highlighted in the chart above which notes above it price is extremely BULLISH.
High probability setup.
Entry: Between 97.50 - 98.10
Stop loss: 97.48
Target: 99.51
We also know exactly where the level is IF we are WRONG > always know where you are wrong and get out quickly.
A break below we exit the long position and look to reevaluate our bullish dollar view.
Have a great day!
Cheers,
JCL
Trade fermée manuellement
Today's NFP missed weakening the dollar outlook. Exiting the trade here for small profit as circumstances have changed. Will look to re-enter the trade as the DXY trades down closer to the lower band of the entry listed above.
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