Congrats to all my followers who took my advice on the DXY LONG trade based on the analysis of the 8TH of September 2017. Holding positions for several days is never easy, but the profits should have made up for it.
I bring my second analysis on the DXY. Here is a hedging opportunity. Hedging is defined as taking a trade in the opposite direction of your original trade, overall the DXY still looks long. Therefore, we are looking into going short on the DXY which opposes the original direction of the initial long trade we took. Based on our analysis we will be making a new daily low,we expect the low to not go further then our 91.10 level, forming a head and shoulders pattern.
Remember, however that the EUR/USD makes up 57% of the Dollar Index (DXY). so please view and like the next analysis which will be on the EUR/USD.
All the above mentioned Trend analysis is solely my opinions, and investors should not view this as instructions on how to trade the mentioned Asset class. Doing so will be at the responsibility of the investor. Trading has a high level of risk.
www.tradingview.com/chart/RqDJjHDT/
I bring my second analysis on the DXY. Here is a hedging opportunity. Hedging is defined as taking a trade in the opposite direction of your original trade, overall the DXY still looks long. Therefore, we are looking into going short on the DXY which opposes the original direction of the initial long trade we took. Based on our analysis we will be making a new daily low,we expect the low to not go further then our 91.10 level, forming a head and shoulders pattern.
Remember, however that the EUR/USD makes up 57% of the Dollar Index (DXY). so please view and like the next analysis which will be on the EUR/USD.
All the above mentioned Trend analysis is solely my opinions, and investors should not view this as instructions on how to trade the mentioned Asset class. Doing so will be at the responsibility of the investor. Trading has a high level of risk.
www.tradingview.com/chart/RqDJjHDT/