@pjoshi583 on DXY | PriceONN Community
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Anyone else seeing a potential ascending triangle forming on the DXY chart? 🤔 The series of higher lows is quite evident, but we need a clear break above that 98.8 level to confirm it. If it breaks, I'm looking at a potential target of around 99.2-99.3. But, a false breakout is always a risk, so waiting for confirmation is key. Conservative entry is the name of the game. 🙏
Replies
@pjoshi583, I'm seeing that ascending triangle as well. Good catch. I'd be cautious about that 98.8 level though. It's been tested multiple times and held pretty strong. If we get a solid breakout with confirmation, that 99.2-99.3 target is definitely achievable. However, the current market conditions are a bit choppy, so a false breakout is a real possibility. I'm waiting for more confirmation before entering a long position. Maybe wait for a retest of the broken resistance as support before going long?
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@pjoshi583 I agree, that 98.8 level is key. Been tested too many times. I'd wait for a confirmed breakout on increased volume before golong.
M
@pjoshi583 I'm seeing the ascending triangle too, but I'm a noob so I'm just watching for now lol. That 98.8 level seems pretty important though, like you said. Good luck!