DXY is Bullish on HTF.
Well DXY has always been on our weekly watchlist not because we trade it but since it measures strength of the dollar and it provides confidence when trading dollar relative major currency pairs.
on the 03 May 24, DXY played out as predicted where it mitigated the MTF-IMB then slowly went up. That's where we saw MSS or alignment with swing structure.
Current structure: The market has broken above last swing H>Momentum> LQ>Extreme zone. Initial POI was mitigated and left a fresh POI which the market is currently in, on LTF liquidity has been purge; saw CH and now we can expect the market to mitigate the LTF POI/ 50% of the HTF wick before it moves to form new highs/ mitigate last swing high.
This gives us the idea that currency pairs that are in relation to the value of the dollar like EU;GU;AU..etc. will experience shorts and currency pairs that have a dollar as a base might experience longs.
During Pre-market open; analysis will be evaluated and executed accordingly.
Well DXY has always been on our weekly watchlist not because we trade it but since it measures strength of the dollar and it provides confidence when trading dollar relative major currency pairs.
on the 03 May 24, DXY played out as predicted where it mitigated the MTF-IMB then slowly went up. That's where we saw MSS or alignment with swing structure.
Current structure: The market has broken above last swing H>Momentum> LQ>Extreme zone. Initial POI was mitigated and left a fresh POI which the market is currently in, on LTF liquidity has been purge; saw CH and now we can expect the market to mitigate the LTF POI/ 50% of the HTF wick before it moves to form new highs/ mitigate last swing high.
This gives us the idea that currency pairs that are in relation to the value of the dollar like EU;GU;AU..etc. will experience shorts and currency pairs that have a dollar as a base might experience longs.
During Pre-market open; analysis will be evaluated and executed accordingly.