DXY Trend Technically Broken ? 8/12/22 Analysis
I wanted to post this analysis for educational purposes. A lot of traders base their trades on trendlines to understand that the market is trending. Just because a trendline is broken, it doesnt necessarily mean a trend is broken as you can see here for the dollar index.
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It is imperative to look for confirmations on the lower timeframe to ensure price has formed a strong market structure for this break. If you know this pair well, you can also use a price filter.
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Heavy momentum coming back into the channel
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As you can see the trend has not been broken yet even thou price broke the trendline.
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We have now broken back into the channel
