DXY currently doing its thing. Not much to update on the markets as we aren't getting much direction. Personally taken a few scalps and nothing more. When the markets aren't necessarily giving us nice trades SIT ON YOUR HANDS and WAIT.
PROTECTING YOUR CAPITAL IS ALSO PART OF TRADING
For today we will need to keep a close eye on the level we had previously discussed sitting at 106.324 (red line) for DXY.
IF we break above and hold it we will likely push higher. Consequently pushing the markets downwards.
IF we fail to reclaim it and start trading back below we will most likely retest the lows sitting at 105.535.
Will use this template to trade GOLD sitting at an interesting level - ONLY FOR SHORT TERM SETUPS (for now). Letting the other markets cool down and will come back to them when we get cleaner pa.
Points of interest
106.324
105.535
Don't be fooled by the moves we have gotten on BTC and crypto related to the fake BTC ETF announcement. We are not out of the woods yet and the 'bull run' is far from here yet. Look around at the macro-economics, micro-economics and geopolitics - nothing indicates markets should start being 'bullish' and 'hopeful'.
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
PROTECTING YOUR CAPITAL IS ALSO PART OF TRADING
For today we will need to keep a close eye on the level we had previously discussed sitting at 106.324 (red line) for DXY.
IF we break above and hold it we will likely push higher. Consequently pushing the markets downwards.
IF we fail to reclaim it and start trading back below we will most likely retest the lows sitting at 105.535.
Will use this template to trade GOLD sitting at an interesting level - ONLY FOR SHORT TERM SETUPS (for now). Letting the other markets cool down and will come back to them when we get cleaner pa.
Points of interest
106.324
105.535
Don't be fooled by the moves we have gotten on BTC and crypto related to the fake BTC ETF announcement. We are not out of the woods yet and the 'bull run' is far from here yet. Look around at the macro-economics, micro-economics and geopolitics - nothing indicates markets should start being 'bullish' and 'hopeful'.
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
