Hi fellows, This pair is quite similar to USDCHF, Currently this pair is not ready for buy for longer term for that watch price action on lower time frame for early buy. If strong impulse appear on lower time frame then look for buy. In case we dont see any impulse and price heading lower then watch for lower degree Flag and sell for short term and then look for buy close to the trend line for reversal.
Komen
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Break above trend line will give a single for reversal but we will analyse that breakout before any buy. One more move down is possible
Komen
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Watch TCP fellows.
Komen
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Here we got the TCP formation fellows. One more move down is possible or watch strong breakout.
Komen
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Komen
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Komen
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we have change in pattern formation but we are still bullish on DXY as we are above the impulse watch bottom.
Dumb question maybe, but what do you mean by "TCP"?
UnknownUnicorn638634
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You keep lowering the bar for dxy for reversal - is that how you are supposed to trade? I am getting very frustrated with traders who keep calling some imaginary bottom in dxy. Don't you think DXY will only reverse when there is political stability in USA. Until then, keep catching the falling knife - no amount of technical analysis is going to help you
Wave-Trader
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@jorv2074, Come on man Who is asking you to buy. This is a longer term perspective. Short term trade setups are sell. You just need to realise that USD will not keep falling for all the time at some point it has to turn. And if you dont know how to look for reversals then please this idea is not for you i am sorry.
UnknownUnicorn638634
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@Wave-Trader, To be honest this is not an idea - it is a hack. You keep calling bottom and somewhere it will stick - is that your strategy? All I am trying to point out is that DXY will not reverse until there is political stability in USA. No amount of your trendlines will make it reverse. This is just a constructive criticism. You are not the only trader who has been calling bottoms in dxy and when they are wrong, they move the bar lower hoping that it will stick somewhere. If I had a penny for all the traders on TV making the DXY reversal call, I will be rich :-) But, in the meantime, I will keep selling DXY and get rich that way :-)
Wave-Trader
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@jorv2074, Please post your chart and show me your Perspective.
UnknownUnicorn638634
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@Wave-Trader, I have no chart. I just told you dxy will reverse when there is political stability in USA - perhaps you are not getting my point. Look I like the trade ideas you post here - after all, I follow you. But if you are not willing to accept an opposing view, then you are pretty thin skinned.
Wave-Trader
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@jorv2074, Thats not about political issue mate. Thats about inflation and Cheap Dollar policy from FED. So update yourself fundamentally.
UnknownUnicorn638634
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@Wave-Trader, Really? Economic data from USA has not been too bad and yet dxy keeps crapping. FED has made it clear that they want to raise interest rates - perhaps, it is you who needs to update on fundamentals. It is Trump who wants a cheap dollar not the FEDS. The only reason is political chaos. So what is your next support structure, now that 93.04 is taken out. Or do you like catching that falling knife just like your audusd short trade ideas for the last few weeks?
Wave-Trader
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@jorv2074, You are talking about this fall now ya. We were already prepared for that a single chart enough to explain my views. You seems to me very excited on this fall. We were already prepared for that mate . Just look at this chart on this link
hpics.li/e21f3ea
UnknownUnicorn638634
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@Wave-Trader, My post was not based on your past chart - it is based on the chart you posted on this thread :-)