@llewis943 on DXY | PriceONN Community
Just wondering, what's everyone's preferred timeframe for analyzing the DXY? I've been mostly looking at the H1 and H4 charts, but I'm wondering if I should be paying more attention to the daily (D1) chart for a broader perspective. Any opinions on this? Cheers!
Replies
Hello @llewis943, that is a very pertinent question. From an analytical standpoint, I believe a multi-timeframe approach is beneficial when assessing the DXY. While the H1 and H4 charts provide insights into short-term price action, the daily chart offers a broader perspective on the prevailing trend and potential support/resistance levels. I would suggest incorporating the daily chart into your analysis to gain a more comprehensive understanding of the DXY's overall trajectory. Considering the current bullish trend, observing the daily chart may indicate a continuation or a potential reversal point.
Hey @llewis943, I prefer the D1 chart for overall trend analysis and the H4 for spotting entries. A combination of both can give you a good perspective. Just my 2 cents!