DXY

16 thg 3, 2022

3.16.22 DXY: I read this market using some analyze that won't be fitting for some traders (which is OK), but I put it out there anyway because I use it at times. I picked a market that is contracted and hard to trade because of this...and is difficult to trade for the bigger profits. I am not so adamant about this market making new highs when it closed a gap and found a reversal at the 1.272 and went higher for two reasons: it is pressing lower on the daily chart, AND it is a contracted market. At the near end of the video, I alluded to the fact that this market on today's daily bar opened lower than yesterday's high and is trading below it's open<<which could be a sign that the market will move lower despite the market hit the 1.272 extension and then moved higher at least for a bit. This is the problem with contracted (narrow range) markets. Still, it doesn't hurt to spend a little time thinking about this.