Hi Traders! Dollar Index buy idea update and follow up is here. On March 18th I shared this “US Dollar Index Buy Idea From Strong Support Zone” post in trading view. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!
My Idea
In my forecast, I mentioned that “If we get a valid breakout above the most recent downtrend line we may then consider it as a validation for the bullish view”. On the H4 chart, the price action followed my analysis exactly as I expected it to. The validation for the bullish view which is a valid breakout above the most recent downtrend line happened. After the breakout of this dynamic resistance, we had a pullback and then the price moved higher further providing an excellent move to the upside.
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To your success,
Vladimir Ribakov
Certified Financial Technician
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