Let’s take a look at DXY on the Daily timeframe.
Price recently broke the previous Higher Low, flipping the structure to the downside. This marks a significant shift in momentum.
Now, I'm watching the 98.000 level, which I’ve identified as a Daily Demand Zone. It’s the origin of the move that broke the previous bearish structure, making it a key area of interest.
I’ll be waiting for a reaction from this zone to see if buyers step in again ( most likely ) or if the bearish momentum continues.
That would be my confirmation for xxx/usd shorts.
Price recently broke the previous Higher Low, flipping the structure to the downside. This marks a significant shift in momentum.
Now, I'm watching the 98.000 level, which I’ve identified as a Daily Demand Zone. It’s the origin of the move that broke the previous bearish structure, making it a key area of interest.
I’ll be waiting for a reaction from this zone to see if buyers step in again ( most likely ) or if the bearish momentum continues.
That would be my confirmation for xxx/usd shorts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.