FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

#USDXHello traders! Let's look at the M15 chart. It shows a linear regression channel indicating buyer strength and an upward trend movement. The market is heading towards the upper channel boundary at 97.07. To open a position, I consider buying opportunities from 96.59 - the lower channel boundary, expected to support the bears. Upon reaching the target, it's advisable to wait for a pullback due to volatility exhaustion on M15 and a potential downward reversal. In this case, staying long with buys might not be ideal. A more favorable approach would be to wait for a correction to the lower channel boundary and then look for a buying entry point, significantly reducing costs if the channel signal fails.

On the hourly chart, I notice a strong bearish trend currently. I plan to wait for the upper channel boundary at 96.96 to sell down to 96.27, aiming for maximum profit. However, breaching the target could signal further bearish activity. In that scenario, I am prepared to quickly adjust my plan to adapt to market changes. My main goal is to find a good market entry point. I pay attention to the edges of linear regression channels as they indicate potential volatility constraints for a specific player, helping me make decisions based on the current situation. I am always ready to alter my plan if market conditions shift. For instance, if the 96.96 level is breached by bulls, it could signal bullish interest, leading to a reassessment and cancellation of sells. I will closely monitor market changes and make decisions based on the analysis of the data received.