Dollar index prediction.
A. If You’re Looking to Go Long (Buy):
Entry Point 1: Wait for a breakout above 108.064. Look for a candle closing above this resistance with strong volume to confirm the breakout.
Entry Point 2: If the price pulls back to 107.700 (support level) and shows bullish reversal signals (like a hammer candle or bullish engulfing pattern), consider entering a buy position.
Stop-Loss: Place a stop-loss slightly below 107.700 to protect against a false breakout or a larger downtrend.
Take-Profit: Target the upper resistance level near 108.800.
B. If You’re Looking to Go Short (Sell):
Entry Point 1: If the price gets rejected at 108.064 and shows bearish signals (e.g., shooting star, bearish engulfing), consider entering a short position.
Entry Point 2: If the price breaks below 107.700 and retests this level from below, it confirms a potential downtrend.
Stop-Loss: Place a stop-loss just above 108.064 or above the retest candle.
Take-Profit: Target the lower trendline near 107.200.
Entry Point 1: Wait for a breakout above 108.064. Look for a candle closing above this resistance with strong volume to confirm the breakout.
Entry Point 2: If the price pulls back to 107.700 (support level) and shows bullish reversal signals (like a hammer candle or bullish engulfing pattern), consider entering a buy position.
Stop-Loss: Place a stop-loss slightly below 107.700 to protect against a false breakout or a larger downtrend.
Take-Profit: Target the upper resistance level near 108.800.
B. If You’re Looking to Go Short (Sell):
Entry Point 1: If the price gets rejected at 108.064 and shows bearish signals (e.g., shooting star, bearish engulfing), consider entering a short position.
Entry Point 2: If the price breaks below 107.700 and retests this level from below, it confirms a potential downtrend.
Stop-Loss: Place a stop-loss just above 108.064 or above the retest candle.
Take-Profit: Target the lower trendline near 107.200.
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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.