DXY (Dollar) Shorts from 103.300 down to 102.200
This Weeks DXY bias is to expect another major move to the downside to continue its bearish trend that it has now set. To capitalise on this movement we will wait for a minor pull back up to a near unmitigated supply, (which will be the 9hr) to look for entries to get into this selling trend.
From this we will look for our usual wyckoff distribution to play out on the lower time frame and a CHOCH inside our POI to the enter our sell positions. I would love to see the asian high get swept as well because it will increase our confluence for a stronger sell bias. Overall I am temporarily bearish for the dollar and I expect price to keep dropping for the rest of this year.
Confluences for DXY (dollar) sells are as follows:
- Price is temprorarily bearish due to the perpetual BOS to the downside.
- There's still trend liquidity left to the downside that hasn't been taken.
- For price to react off next there is a demand zone below on the 4hr region.
- There is a clean supply 9hr that caused an impulsive to the downside.
- By the candle stick anatomy bearish candles are very strong holding lots of momentum.
P.S. I would ideally wait for this structure to break first before seeing the correction back up to the 9hr however, if price goes that low I see it continuing going down to reach our next demand. Which we will then anticipate a potential short term buy back up.
ALSO WE HAVE REACHED 100 FOLLOWERS, SO MANY THANKS! BE SURE TO SHARE THE PAGE TO YOUR FELLOW TRADERS AND HAVE AN AMAZING TRADING WEEK AHEAD!!!
From this we will look for our usual wyckoff distribution to play out on the lower time frame and a CHOCH inside our POI to the enter our sell positions. I would love to see the asian high get swept as well because it will increase our confluence for a stronger sell bias. Overall I am temporarily bearish for the dollar and I expect price to keep dropping for the rest of this year.
Confluences for DXY (dollar) sells are as follows:
- Price is temprorarily bearish due to the perpetual BOS to the downside.
- There's still trend liquidity left to the downside that hasn't been taken.
- For price to react off next there is a demand zone below on the 4hr region.
- There is a clean supply 9hr that caused an impulsive to the downside.
- By the candle stick anatomy bearish candles are very strong holding lots of momentum.
P.S. I would ideally wait for this structure to break first before seeing the correction back up to the 9hr however, if price goes that low I see it continuing going down to reach our next demand. Which we will then anticipate a potential short term buy back up.
ALSO WE HAVE REACHED 100 FOLLOWERS, SO MANY THANKS! BE SURE TO SHARE THE PAGE TO YOUR FELLOW TRADERS AND HAVE AN AMAZING TRADING WEEK AHEAD!!!