Bias: Long
Type: Reversal Trade
Trend: Range
Area of Value: Key Levels from downtrend before change of character.
Momentum: 1D MACD Histogram about to cross the High Tide.
Entry: 97.691
Exit: Stop Loss @ 96.890; Take Profit @ 100.894.
Analysis
Fact 1: DXY since 2022 has stayed above the 100.890 support level trending as a range.
Fact 2: DXY has now crossed the key support level @ 100.890 which now acts as a resistance
Fact 3: DXY crossed the trend line signaling a change of character + DXY MACD Histogram is about to cross to High Tide also signaling a change of character.
Conclusion:
Since the key support level @ 100.890 has now been broken, and there is a change of character about to happen. I believe that DXY will at the very least reach the resistance level @ 100.890 before bouncing off to continue the down trend or break to re-enter the range.
Recommendation:
Long Entry on the Area of Value (97.691), for stop loss add 1D ATR for distance (96.890), for take profit let it be the key resistance level (100.894). R:R of 4
Type: Reversal Trade
Trend: Range
Area of Value: Key Levels from downtrend before change of character.
Momentum: 1D MACD Histogram about to cross the High Tide.
Entry: 97.691
Exit: Stop Loss @ 96.890; Take Profit @ 100.894.
Analysis
Fact 1: DXY since 2022 has stayed above the 100.890 support level trending as a range.
Fact 2: DXY has now crossed the key support level @ 100.890 which now acts as a resistance
Fact 3: DXY crossed the trend line signaling a change of character + DXY MACD Histogram is about to cross to High Tide also signaling a change of character.
Conclusion:
Since the key support level @ 100.890 has now been broken, and there is a change of character about to happen. I believe that DXY will at the very least reach the resistance level @ 100.890 before bouncing off to continue the down trend or break to re-enter the range.
Recommendation:
Long Entry on the Area of Value (97.691), for stop loss add 1D ATR for distance (96.890), for take profit let it be the key resistance level (100.894). R:R of 4
Trade fechado: stop atingido
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.