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DXY -> Big bull trap being printed. Perfect time to sell Dollar
As we can see, it prematurely broke out of a symmetrical triangle that I believe will end up resolving to the downside in the next couple months or so.
Going back to using ichimoku (have not used this indicator in months), I notice a bearish kumo that is stopping DXY in its track. This makes sense as DXY is very over bought on almost all time frames and is due for a re-trace.
My biggest indicator (and most reliable) is the fact that everyone is now a bull on the dollar (when I was calling for a big bull move at the lows, but was being ignored as many like to continue to draw arrows on over extended moves).
Going back to using ichimoku (have not used this indicator in months), I notice a bearish kumo that is stopping DXY in its track. This makes sense as DXY is very over bought on almost all time frames and is due for a re-trace.
My biggest indicator (and most reliable) is the fact that everyone is now a bull on the dollar (when I was calling for a big bull move at the lows, but was being ignored as many like to continue to draw arrows on over extended moves).
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