DXY is in a long term uptrend, so, corrections give way to excellent buying opportunities. This way, we can profit from exploiting volatility, while following our long term vision and fundamental bias.
There is a correction under way, which I assume can be similar to the previous ones. I think the move up will start soon, but it'll probably gain steam after FOMC is out of the way, not before. I'd reccomend buying into a position gradually, since now we made a strong move down, breaking into new weekly lows, so we'll need to use a wide stop loss (or calculating size based on risking 0.5-3% of the account, if stopped out 3 times the daily average true range value down from the initial entry).
Monitor price action in the coming 8 days, it should be clear when it's about to turn up again, so be ready to add incrementally to the position.
Let's see how it goes, good luck!
Ivan Labrie.
There is a correction under way, which I assume can be similar to the previous ones. I think the move up will start soon, but it'll probably gain steam after FOMC is out of the way, not before. I'd reccomend buying into a position gradually, since now we made a strong move down, breaking into new weekly lows, so we'll need to use a wide stop loss (or calculating size based on risking 0.5-3% of the account, if stopped out 3 times the daily average true range value down from the initial entry).
Monitor price action in the coming 8 days, it should be clear when it's about to turn up again, so be ready to add incrementally to the position.
Let's see how it goes, good luck!
Ivan Labrie.
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Acting as expected.
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Adding gradually to longs. I'm hedged considerably while the dollar pulls back with my silver, gold, miners and mxn positions. I'll look to exit these going into FOMC next week.
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Look at the arrow...such precision.
s3.amazonaws.com/tra...shots/y/ybp2fxRf.png
Low volume support held, uptrend intact. Wait for the close next.
s3.amazonaws.com/tra...shots/y/ybp2fxRf.png
Low volume support held, uptrend intact. Wait for the close next.
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Anyone caught this?
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Downtrend failure target:
103.62
If the long term signal pans out, this can go WAY higher. Hold!!!
If the long term signal pans out, this can go WAY higher. Hold!!!
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Absolutely amazing move so far. 104-105 should be hit rather quick. It can keep going higher for a couple weeks too, so, be patient. Stops can be at break even.
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We almost hit the 'downtrend failure' target.
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The price action is scary, I'm out of all FX trades for now, I think we can get a retracement in the dollar trend.
