DXY Short Term Bearishness
Market structure showed a shift lower twice, and indication of downtrend continuation. Daily chart printed multiple rejection followed by thursday bearish engulfing candle. I anticipate price trade to or below the 50% level of the uptrend price range before buliishness resumes or we see downtrend continuation.
I would like to see a pullback to my entry A or B. Entry A is in confluence with 50% pullback level, MA and Trendline.
A break above Entry B which would invalidate the above confluences therefore, I would pause to see price in action.
If you trade patterns, DXY already formed a Diamond Top at mid of previous week.
I would like to see a pullback to my entry A or B. Entry A is in confluence with 50% pullback level, MA and Trendline.
A break above Entry B which would invalidate the above confluences therefore, I would pause to see price in action.
If you trade patterns, DXY already formed a Diamond Top at mid of previous week.
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