DXY - 4H - possible fractal repetition.

٢٦ أكتوبر ٢٠٢٠

Not a financial advisor.

Currently looking at the DXY, seems that a possible pattern is being formed on the 4h.
If this Cup and Handle is successful, we can see DXY reaching the top of the channel...

٢٦ أكتوبر ٢٠٢٠

ملاحظة

Last 4h candle closed above the neckline...
I was expecting a stronger break...as long as there is no fakeout the top of the channel would remain the target.

٢٦ أكتوبر ٢٠٢٠

ملاحظة

This breakout does not look successful.
This fake out would mean a retest of the channel support line or the middle of the channel.

٢٧ أكتوبر ٢٠٢٠

ملاحظة

Knock Knock....

٢٧ أكتوبر ٢٠٢٠

ملاحظة

I would say, below 92.7 the pattern is no longer valid.
Even higher lows trendline in yellow seems to have been broken.
Awaiting for DXY to decide itself! :)

٢٧ أكتوبر ٢٠٢٠

ملاحظة

Candle close above the yellow trendline maintaining the possibility of an uptrend and the pattern remain possible to be completed.

٢٧ أكتوبر ٢٠٢٠

ملاحظة

I would have to consider this more an ascending triangle than a Cup and Handle!

٢٨ أكتوبر ٢٠٢٠

ملاحظة

Playing as expected:

٢٨ أكتوبر ٢٠٢٠

أغلقت الصفقة: تم الوصول للهدف

Reaching target... Trade closed!!

It is important to know IF downslopping resistance is broken ...
A BIG move can come for DXY!

٢٨ أكتوبر ٢٠٢٠

ملاحظة

٢٨ أكتوبر ٢٠٢٠

أغلقت الصفقة: تم الوصول للهدف