DXY AIMLESS CONSOLIDATION 12/1/24 - Pre US Data
Hello lovely people!
1.DXY has been for a long time in consolidation - yes the ranges are wide but hardly helpful on a TREND for any currency pair you are trading... you will just get trapped, personally I would not enter anything until this consolidation ends
2. I have marked Daily candle close (must see it closed and DONE) noting it has tricked everybody and gone straight back in the naughty BOX!) this is why I have placed them further away.. ideally want to wait for a second daily candle to see it stays there
3.Yes there is inverse head and shoulders Bulllish pattern FORMING note can be a faker even after some degree of validation.. just like last time when price was at the daily trend line
4.Yes you can want to see a bullish case or bearish case but why not wait for price to clearly prove it to you first you don't have to be in the trade at the time this is happening it is much easier to win when market clearly wants to trend.
5. Good luck, please share if this helpful to you..
US data news today so plenty of scope for fakers! (I don't enter when I know there is data news)
1.DXY has been for a long time in consolidation - yes the ranges are wide but hardly helpful on a TREND for any currency pair you are trading... you will just get trapped, personally I would not enter anything until this consolidation ends
2. I have marked Daily candle close (must see it closed and DONE) noting it has tricked everybody and gone straight back in the naughty BOX!) this is why I have placed them further away.. ideally want to wait for a second daily candle to see it stays there
3.Yes there is inverse head and shoulders Bulllish pattern FORMING note can be a faker even after some degree of validation.. just like last time when price was at the daily trend line
4.Yes you can want to see a bullish case or bearish case but why not wait for price to clearly prove it to you first you don't have to be in the trade at the time this is happening it is much easier to win when market clearly wants to trend.
5. Good luck, please share if this helpful to you..
US data news today so plenty of scope for fakers! (I don't enter when I know there is data news)