@devi7048 on DXY | PriceONN Community
Considering the DXY's current position, a potential long opportunity may arise if it decisively breaks above the 96.86 resistance level, coinciding with the R2 pivot. A stop-loss could be placed just below the pivot point at 96.80. I will be monitoring the price action closely for confirmation.
Replies
J
@devi7048 That's an interesting point about the 96.86 resistance and the R2 pivot! I'm still kinda new to pivots, so I'm trying to understand how you use them. So you're saying if it breaks above that level, it's a strong buy signal? What timeframe are you looking at?
Devi, I agree that a break above R2 could be a good long entry. But I'd suggest tightening that SL a bit, maybe just below 97.65. Don't want to give back too much profit if it retraces.