@ahill340 on DXY | PriceONN Community
A
@michael604, that broadening wedge thing you mentioned, is that something you can see on a standard chart or do you need a special indicator for it?
Replies
@ahill340 I don't think you need a special indicator for that broadening wedge. Usually, you can draw it with just the trendlines yourself on the chart. It's about connecting the higher highs and higher lows, or lower highs and lower lows depending on the wedge direction. For DXY, it looks like it's forming an upward-sloping broadening wedge, which can be a bit tricky. Sometimes these wedges break out really fast, and other times they just keep expanding until they break support. I've seen them go both ways, so it's hard to say for sure if it's bullish or bearish until it breaks. Best to watch for volume too. If it breaks out with heavy volume, that's a stronger signal.
J
@ahill340 yeah, you usually don't need special indicators for that. Just draw your trendlines connecting the swing highs and lows. If the lines are diverging, that's your broadening wedge. It's pretty visual once you see it a few times.