@cgreen37 on DXY | PriceONN Community

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C
Hey @tmartin347, sorry to hear about the losses mate. It’s tough out there, especially when you’re just starting. I’ve been watching the DXY chart for a bit now, and it looks like it’s been forming a bit of a descending triangle pattern on the lower timeframes, maybe H1 or H4. The price is getting squeezed between that flat support around 99.10-99.15 and a series of lower highs. It’s pretty tight, and usually, that means a breakout is coming, but with this quiet session, it's hard to tell which way it'll go. I'm not seeing any clear signals from RSI or the SMAs to suggest a strong move yet, just kinda hanging around neutral. Might be worth keeping an eye on that 99.00 level as a potential support if it breaks down, or that 99.40 resistance if it tries to push up. I'm staying out for now until it shows a clearer direction.
DXY

Replies (1)

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DKumar13 PRO newbie Mar 19
Hey @cgreen37, a descending triangle, you say? Interesting. I'm seeing the same thing, but honestly, it's probably just setting up for another stop hunt. They'll lure folks into shorts at that 'pattern' and then pop it higher, just to smack it down again before NY closes. Classic DXY.
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