DXY - Are You Ready?

Apr 16

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 DXY has been overall bullish, trading within the rising channel in red.

Currently, DXY is approaching the upper bound of the channel acting as a non-horizontal resistance.

Moreover, it is retesting a strong resistance zone marked in green.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red trendline and green resistance.

📚 As per my trading style:
As #DXY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich