DXY - Over-Bought Zone!

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

DXY has been overall bullish for a while trading inside the brown rising channel. However, it is currently approaching the upper bound / upper brown trendline, which I consider a non-horizontal resistance and over-bought zone.

Moreover, the zone 113 - 114 is a horizontal resistance zone .

So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
Since DXY is sitting inside the purple zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich