The DXY is looking very clear now, especially at this double top area.
Just broke the high of the double top and on the Daily we had a big impulse up followed by a completed retrace, catching people on the wrong side!
We saw a breakout of an uptrend channel and are now seeing the DXY push lower. Usually, after this big impulse to the downside, we will see a tight flag, to then push down further.
HOWEVER: If we don't see the first flag, and we see some rapid reverse, this could be the start of a larger to flag to then push higher to the top of the trend line. So don't rush USD pairs, look at what's actually happening, play the probability not possibility.
Just broke the high of the double top and on the Daily we had a big impulse up followed by a completed retrace, catching people on the wrong side!
We saw a breakout of an uptrend channel and are now seeing the DXY push lower. Usually, after this big impulse to the downside, we will see a tight flag, to then push down further.
HOWEVER: If we don't see the first flag, and we see some rapid reverse, this could be the start of a larger to flag to then push higher to the top of the trend line. So don't rush USD pairs, look at what's actually happening, play the probability not possibility.