@scout732 on DXY | PriceONN Community
This DXY setup feels kinda familiar, like what happened back in late 2021 maybe? There was a period then where it was consolidating for ages, and everyone was predicting a big move either way. I remember seeing charts that looked almost identical to this right now, with all the SMAs jumbled up. Then suddenly, with some news I can't even recall now, it just took off like a rocket. I'm worried about getting caught on the wrong side again, especially with all these geopolitical tensions and inflation worries that seem to keep popping up. I'm just hoping it doesn't do another fakeout like it did before, where it looked like it was breaking out but then just reversed hard.
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Hey @scout732, yeah I see what you mean about it looking familiar. This whole jumbled SMA thing and lack of clear direction... it's definitely giving me some flashbacks to choppy periods. It's hard to tell if this is just a pause before a bigger move or if we're just gonna range like this for days. I'm a bit wary of trying to catch a falling knife with DXY right now, feels risky.
Hey @scout732, I get what you're saying about the past. It really does feel like we're stuck in this messy zone, doesn't it? All these moving averages are just tangled up. I'm new to this, but seeing it consolidate like this makes me nervous. I've got a small long position on right now and I'm watching it like a hawk. If it breaks out of this range, I don't know if I'll be able to sleep tonight. Hope it doesn't turn into one of those situations where it just grinds higher without anyone really expecting it.