$DXY Top Down Analysis ๐
In A Thread ๐งต
In A Thread ๐งต
Starting with the Monthly Timeframe, what do we see ??
Well, first of all, if we look at swing high, to swing low.
We can see price has already tapped into the 50% level of our current range.
Well, first of all, if we look at swing high, to swing low.
We can see price has already tapped into the 50% level of our current range.
What did price also do as it tapped into the 50% level of this current range ?
We also tapped into a Monthly FVG.
Price tends to use Internal Range Liquidity (Fair Value Gaps, Order Blocks, ETCโฆ)
to push price towards External Range Liquidity (Old High and Old Lows
So where would our current Draw On Liquidity be ?
The Swing Low of this current range.
Price tends to use Internal Range Liquidity (Fair Value Gaps, Order Blocks, ETCโฆ)
to push price towards External Range Liquidity (Old High and Old Lows
So where would our current Draw On Liquidity be ?
The Swing Low of this current range.
One last thing before we leave the Monthly Chart.
If you look closely, we are below a current Monthly FVG
If we close below this FVG in 10 days (thatโs when the monthly candle closes)
Iโll be bearish for the rest of the year on $DXY ๐
Letโs move onto the weekly.
If you look closely, we are below a current Monthly FVG
If we close below this FVG in 10 days (thatโs when the monthly candle closes)
Iโll be bearish for the rest of the year on $DXY ๐
Letโs move onto the weekly.
Looking at the weekly timeframe, what do we see ?
Well if you look closely, Weekly FVGโs are being violated.
These are signs of changes in state of delivery (CISD)
What else are we seeing ?
These are signs of changes in state of delivery (CISD)
What else are we seeing ?
Weekly Order Blocks are also being formed, another sign of what?
Changes in state of delivery.
Everything we are seeing, is heavy signs of a bearish market.
Changes in state of delivery.
Everything we are seeing, is heavy signs of a bearish market.
What can we also do on the weekly timeframe ?
Look at swing high, to swing low, and see where we are currently in the market.
Look at swing high, to swing low, and see where we are currently in the market.
From Swing High, to Swing Low, we see are currently in a Premium market (above 50% of the current weekly range)
So what is our current targets on the weekly ?
So what is our current targets on the weekly ?
This weekly FVG is our current target.
Letโs move onto the daily timeframe
Letโs move onto the daily timeframe
Looking at the daily what can we expect ?
If price closes under this Daily FVG today (Monday)
We could possibly tap back into the FVG (which would now be a iFVG)
and move lower on Tuesday.
OR
We could possibly tap back into the FVG (which would now be a iFVG)
and move lower on Tuesday.
OR
Price could draw to this Daily FVG or Daily OB, before continuing lower.
โWell, how are you going to choose one or the otherโ
Iโm not.
Timeframe alignments :
Monthly > Daily > 1H > 5M
So if we tap into either Daily PD array, I will wait for a 1H change in state of delivery
โWell, how are you going to choose one or the otherโ
Iโm not.
Timeframe alignments :
Monthly > Daily > 1H > 5M
So if we tap into either Daily PD array, I will wait for a 1H change in state of delivery
So iโm not just picking and choosingโฆ the 1 Hour timeframe will tell me which one to choose :)
Man, maybe that was a little too much information ๐ญ๐ญ
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