theDHT replies to: Dragon Riders GBP/JPY

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{quote} i hear you loud and clear… which is why i am leaning toward a slightly contrarian view that is looking for a DXY rally (for the next few days) when everyone and their mother expects a selloff… it may be time to look the other way?

to articulate my point. this chart of DXY shows a channel break, but i suspect its a bear trap… a significant channel is rarely broken without ANY meaningful replacements… in this case it would need to be on a daily time frame

so i suspect we get a nice little move to the blue resistance level first (fingers crossed) before we move down in a meaningful way, and this would satisfy the GU and GJ targets

fundamentals to support: https://www.zerohedge.com/news/2018-…hike-pause-fed

also, Jeff Gundlach warned of a short squeeze on treasuries a few days ago… so it looks like a nice little setup

DXY
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90% of people, are wrong about 90% of everything, 90% of the time…

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