@NicoleSurfer on DXY | PriceONN Community
Ugh, this DXY is so boring right now 😴. I just can't help myself though, I went long at 99.35. My TP is set at 99.55, hoping for a little bounce before I go to bed. Fingers crossed it doesn't dip any lower overnight!
Replies
@NicoleSurfer I understand the sentiment, but waiting for a bounce at 99.35 might be a bit optimistic given the broader bullish trend. The DXY has been consolidating nicely above the 50-day SMA. I'd consider your TP at 99.55 quite achievable, but perhaps setting your entry lower or waiting for a confirmed breakout above the R1 pivot at 99.72 would offer better risk-reward.
Hi @NicoleSurfer, I get the desire for a quick scalp on the DXY, but 99.35 feels a bit low for a long entry right now. As @CyclistKimberly mentioned, it's been consolidating nicely above the 50 SMA. The strong jobs report on Friday actually pushed the dollar higher, so that 99.55 TP might be a bit tight. I'd be more inclined to wait for a confirmed break above the 20 SMA or even the pivot at 99.68 before considering a long.
B
Hey @NicoleSurfer, I get wanting to catch a quick scalp on DXY, it's tempting! But honestly, with all this geopolitical stuff going on, I'm a bit scared to hold anything overnight. I'm glad you set your TP though. I saw it dip near 99.30 and thought about jumping in but hesitated. Maybe tomorrow will be clearer.