Dollar index day trading strategy

The dollar index is trading higher this morning according to
the heat map on our morning prep, and when we open our 89 range chart we can
see the bear price channel from Monday and Tuesday has been broken and we’ve
seen the lows the of this price wedge hold and price moves higher off its
support. We are above the range from yesterday,
trading in an outside day above the PHOD, and we have strong resistance overhead
at the 79.940 and 80.195.

We can assume the dollar index will keep rising until it
reaches the next level of resistance and at that point the traders will REACT
either pushing higher through resistance or failing to go higher and reversing
at resistance. So as we move into the levels
overhead we can assume the dollar index will keep rising, so we will keep
selling until the dollar index reaches its overhead resistance, and at that
time we will then look for a wave pattern as continuation of the move, or a
2-step pattern if the dollar index fails.

The 55 range chart shows us a trigger-zone overhead
along with the new price wedge price structure we are trading within. We can see the resistance overhead and if we
break through this resistance look for the price on the dollar index to trade
up and down inside the trigger-zone above us.