DXY Higher High with a possible fake breakout?

DXY is inside an uptrending channel. Price is attempting a breakout at the 1hr level. With tenken sen pointing downwards and kijun sen facing upwards, I expect price to go back up and attempt a breakout to the upside and meet kijun sen at the 1hr level. If this were to happen, it represents a reflection point on the channel and DXY could attempt to make a higher high after a recent run of higher highs and higher lows. If price fails to break $96 then it could fall into a sideways channel.

Entry: 95.70
SL: 95.45
TP1: 95.95
TP2: 96.20

Trade attivo

Commento:

Price was rejected from the kumo cloud and has broken out of the cloud to the upside, will keep monitoring for bullish confirmation.

Trade chiuso manualmente:

SL hit in profit at 96.