U.S.Dollar Currency Index

Technical breakdown on this pair is needed for everyone that is or have been confused about what i see or what i think, most times i do not think i just follow price action using past events. Over the past few years, from 2008, every pattern price made over the years can be analyzed and brokendown into different technical pattern..

Mentors and Students have been lost in price actions lately, Ever since the COVID19 plandemic started last year March, we have seen alot of failed pattern.. i will be sharing some of my views down here for everyone to analyze with me and correct me anywhere i am wrong, i normally do not use this pair as a determinant but since most of my students use it for whatever reason, i have decided to include it in the journal..

Here is a full picture of what we have on DXY since the great drop from early 2000-2002. price action have been trading on a bearish trend and we have been seeing alot of rejections, patterns and weird candlestick pattern, to the upside we have Double top so visible we can not ignore the impact on the market and also to the downside we have the trendline, price action have respected the trend line for years, since early 2012 we have been seeing the ascending wedge on DXY and this trendline just got broken to the downside again!!
With proper breakout seen on the weekly trendline accompanied with the bearish flags we have been taking the drop for a year now, and this moment celebrates a year of a perfect running analysis, but for the past few weeks, price has not really respected our support and resistance zone and we have been getting stopped out on different occassions, this analysis proved me wrong to some students but my explanation was fully based on what i see not what i think…
Ignore the bullshit, this pattern is so glaring not to identify, we are currently looking at the letter M pattern, for the record this pattern have showed up on many charts on different Tf and this time we are seeing it so wild on DXY with proper structure formation and just price stopping out short sellers… Perfect break and retest done, we are currently on a bearish flag formation that stopped out twice but we still bearish on our bias until price shows otherwise.
I will continue to watch price action until we have a failed pattern, and if not? we have all the priviledge to bag for the rest of the year as dollar strength weakens.. EU should be back to Bullish in no time. Focus to get #stuckinprofit
Short Analysis Re-model
Patience with Price Action, Wave 2 COVID19 could be coming up, most nations will be back on lockdown while we bag, focus.

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