Thinking it will be a bull day, but looking to enter lower. I'll wait for a good entry. Dollar showing some early signs of weakness, also seeing US10Y yields in a daily area of supply and a big 4h bearish engulfing
Actually nevermind, bought at 1.3840, stop will go to BE asap and i'll enter lower if it drops, TP open. Possibly 5th-9th is a big accumulation, looking like dxy will fall within its 15m/1h channel after reaching some key fib levels (0.618 retrace of the nov-jan swing high/low, as well as 1.0 ext of the current uptrend). Also in DXY weekly supply I think this could be in control for a bit. Hoping to see a nice breakout move this morning
Overall technical context-inside a falling wedge on a daily rising TL, the 4h demand at 1.38 has rejected quite a few times..if i'm wrong then i'll turn on a dime and go short but being wary of any fakeout moves
Edit- nice try. Still in. If I was a bit sharper this morning I would have waited for that move and bought at the pivot
Actually nevermind, bought at 1.3840, stop will go to BE asap and i'll enter lower if it drops, TP open. Possibly 5th-9th is a big accumulation, looking like dxy will fall within its 15m/1h channel after reaching some key fib levels (0.618 retrace of the nov-jan swing high/low, as well as 1.0 ext of the current uptrend). Also in DXY weekly supply I think this could be in control for a bit. Hoping to see a nice breakout move this morning
Overall technical context-inside a falling wedge on a daily rising TL, the 4h demand at 1.38 has rejected quite a few times..if i'm wrong then i'll turn on a dime and go short but being wary of any fakeout moves
Edit- nice try. Still in. If I was a bit sharper this morning I would have waited for that move and bought at the pivot
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