I follow alot of Peter Schiff, Erik Townsend, George Gammon etc types of people. So I am convinced we've started the beginning phase of the end of the USD.
DXY has been staying mostly within a channel (more or less) and trading has been calm. Over the last few weeks, we've experienced incredible vol pinging out of the channel both high and low
Based on today's closing candle on D1 chart (looking for an englufing candle on the close) there may be a strong case for re-entry on this long dollar blow up position
Of course, in the end if this does play out the way I think, your dollar profits will mean nothing. But we're here to talk about the trade, baby!
EDIT: Fib 95.10 to 103, the current 'turnaround' point i'm looking at is 61.8. Just further possible confirmation to enter a long position at current levels. This could be the beginning of a long 'uptrend' potentially.
DXY has been staying mostly within a channel (more or less) and trading has been calm. Over the last few weeks, we've experienced incredible vol pinging out of the channel both high and low
Based on today's closing candle on D1 chart (looking for an englufing candle on the close) there may be a strong case for re-entry on this long dollar blow up position
Of course, in the end if this does play out the way I think, your dollar profits will mean nothing. But we're here to talk about the trade, baby!
EDIT: Fib 95.10 to 103, the current 'turnaround' point i'm looking at is 61.8. Just further possible confirmation to enter a long position at current levels. This could be the beginning of a long 'uptrend' potentially.