DXY Preparing for Another Leg Down! Grab This Next Short Entry!
DXY confirmed its breakout from the bull channel to the downside and is currently showing some minor support at the 200EMA. I would expect the price gap from here to the 9EMA at 105.000 to close followed by another leg down. We have to be careful to not get caught in a 2 legged trap, which is also a possible outcome at this level.
How do we trade this?
Wait for a sell signal at the 9EMA with a strong bear bar closing on or near its low before entering a short.
1. 200EMA Showing Some Support
2. Two Pushes down, Third Probable
3. Gap to fill to the 9EMA around 105.000.
4. Look for another Short entry at 105.000 with a sell signal
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