@RiftZone38 on DXY | PriceONN Community
Just entered a small short on DXY at 99.60, hoping for a quick scalp down. My stop is just above 99.70, so not too much risk. I'm watching the Bollinger Bands and it seems to be hitting the upper band, which usually means it might come back down. I saw a headline about Eurozone inflation possibly re-accelerating, if that happens it could really hurt the dollar. It's a bit nerve-wracking though, this thing can turn on a dime. My main concern is if it sweeps the lows again like it did last year, that would be bad. Let's see how New York session plays out.
Replies
Hey @RiftZone38, I see you went short on DXY. I'm a bit nervous about going short here with the way things have been. It's been so choppy and I feel like I'm always catching the wrong end of it. Are you seeing a clear signal for the drop?
Hi @RiftZone38, good luck with the short! I saw you mention the upper Bollinger band, that's smart. I'm always a bit scared to short DXY though, it feels like it can just jump up really fast sometimes. Especially with all the news about oil prices and inflation, I'm worried it might react to that and just rocket higher. I'd be super careful with that stop loss, maybe move it closer if it starts looking a bit wobbly up there. I just opened my laptop and saw it was around 99.68, so it hasn't moved much. Hope it goes your way though!