DXY currently retracing, approaching the 50 EMA, following the job reports last Friday.
Weekly and monthly charts are currently on a bearish momentum whilst the daily time frame currently on the oversold zone.
This might hint a final leg of the trend or a correction might take in place.
The plan is to take a short trade after a confirmation candle upon touching the 50EMA and trail our stop to the preceding swing low after two swing lows have been made.
This would give enough breathing room if the market goes into consolidation.
We trail our stop nearest to the price once a bullish momentum reversal occurs on the Daily.
Weekly and monthly charts are currently on a bearish momentum whilst the daily time frame currently on the oversold zone.
This might hint a final leg of the trend or a correction might take in place.
The plan is to take a short trade after a confirmation candle upon touching the 50EMA and trail our stop to the preceding swing low after two swing lows have been made.
This would give enough breathing room if the market goes into consolidation.
We trail our stop nearest to the price once a bullish momentum reversal occurs on the Daily.