DXY short term Shorts to 105.200
SCENARIO 1 - This is my bias for the dollar index (DXY) which gives us extra confluence for my two GBPUSD & EURUSD temporary longs that I have recently posted. As they have a negative correlation between them it gives our trade ideas more confirmation. Im currently expecting price to react as it's in a 8hr supply zone and distribute to eventually sell off towards 105.200 or even lower possibly to 104.700. Once price reaches there we will then expect the dollar to push back up again from those POI's below ( 6hr or 4hr demand zone.)
My confluences for dollar (DXY) shorts are as follows:
- Price changed character to the downside on the higher time frame as well as broke structure indicating the shift in trend has become bearish.
- Price entered an 8hr supply zone that has caused this break of structure to the downside.
- Momentum has slowed down (a good sign that price wants to go back down.)
-Wyckoff distribution taking place to liquidate any previous buyers that was in profit to then allow us to enter the best possible sell position down towards the designated target.
- A few Imbalances have been left below that it must come back and fill.
- Lots of liquidity below as well to target in the form of untouched Asia lows and engineering liquidity.
P.S. Obviously as this is not the only possible scenario, price could also go higher and react off the 6hr supply zone above current price and mitigate that extreme zone to then sell off from there. Either way we are anticipating a drop to follow the bearish trend that has been formed.
My confluences for dollar (DXY) shorts are as follows:
- Price changed character to the downside on the higher time frame as well as broke structure indicating the shift in trend has become bearish.
- Price entered an 8hr supply zone that has caused this break of structure to the downside.
- Momentum has slowed down (a good sign that price wants to go back down.)
-Wyckoff distribution taking place to liquidate any previous buyers that was in profit to then allow us to enter the best possible sell position down towards the designated target.
- A few Imbalances have been left below that it must come back and fill.
- Lots of liquidity below as well to target in the form of untouched Asia lows and engineering liquidity.
P.S. Obviously as this is not the only possible scenario, price could also go higher and react off the 6hr supply zone above current price and mitigate that extreme zone to then sell off from there. Either way we are anticipating a drop to follow the bearish trend that has been formed.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.