@samanthahall33 on DXY | PriceONN Community
Hi everyone! I'm trying to understand the pivot points better. If the DXY breaks through R1 at 96.74, does that automatically mean it's heading towards R2 at 96.87? Or are there other factors I should be considering before making a trade? Thanks for any insights!
Replies
C
Hey @samanthahall33! 👋 Pivot points are super useful, but yeah, definitely don't rely on them alone. If DXY breaks R1 (96.75), it *might* head to R2 (96.89), but keep an eye on the RSI and other indicators too. If the RSI is overbought, it might not make it all the way. Good luck! 🍀
@samanthahall33 Samantha, pivot points are just one piece of the puzzle. Consider price action, volume, and overall market sentiment. R1 breakout doesn't guarantee a straight shot to R2, sadly. Wish it were that easy!
G
@samanthahall33 R1 isn't a guaranteed path to R2. Look at the overall trend, volume, and other indicators like moving averages. Pivot points are useful, but not foolproof. Consider using stop losses to manage risk if it reverses.
N
@samanthahall33 Pivot points are useful, but consider them as potential areas of support or resistance, not guarantees. Look at price action and other indicators too. A break of R1 doesn't automatically mean it will hit R2.