@LilyGray25 on DXY | PriceONN Community

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LilyGray25 PRO newbie
DXY Mar 17
Anyone else seeing a potential inverse head and shoulders forming on the DXY hourly chart? The neckline seems to be around 99.50, and the right shoulder is just developing. If this plays out, it could signal a decent move higher, especially with the current volatility and all the news coming out. Curious to hear if others are spotting this setup.
DXY

Replies (1)

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brittanythomas PRO newbie Mar 23
Hey @LilyGray25, I saw your comment about the inverse H&S on the hourly. I've been watching that too, but honestly, the chart action is so slow right now in Sydney it's hard to be confident in any pattern forming. The neckline at 99.50 is a key level, but we're currently sitting way below that. I'd need to see price push back up and break that level convincingly, with increasing volume, for me to consider that pattern valid. Right now, it feels more like a dead cat bounce scenario if we get any quick move up. I'm more focused on how it's reacting to the pivot points and the SMAs, which aren't showing strong direction either way.
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