Dollar Trade – flight to safety

Dollar Trade – flight to safety

Day trading course S&P 500 Managed Trading Accounts –

The US dollar trade is the flight to safety in the markets.

dollar index showing w pattern 300x248 Dollar Trade   flight to safetyThe US dollar is the flight to safety bellweather. This is a chart of what a “W Pattern” on the dollar index looks like.

The US Dollar Trade – W Pattern is a full reversal off of a major support.

The W pattern is a reversal pattern where the  price puts in a double bottom on decreasing volume approach on the second leg down.  This gave us a MME entry on the continuation with buyers in control.

There is a Fibinacci retracement scale set to check support and resistance.  We do not think that this will be a straight up move and are looking for more opportunities to get in on this pattern on the buyers side.

We are also in a preventative position on this long term trade.

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