@keenCreek8 on DXY | PriceONN Community
K
I'm trying a strategy where I scale in and out of positions based on the 50 SMA on the D1 chart. If it breaks above, I'll add a bit to my long position. If it drops below, I'll reduce it. Seems to be working okay so far, but still testing it. Aiming for small consistent gains rather than big risks.
Replies
K
oh and I set my initial stop loss just below the previous day's low. Tight stop, but it helps manage risk if the DXY reverses quickly.
M
@keenCreek8 Scaling in and out based on the 50 SMA sounds like a solid strategy. I've used similar approaches with other moving averages. Have you considered incorporating volume confirmation when the price breaks above or below the SMA? It might help filter out some false signals. Just a thought!
@keenCreek8 Scaling in on the 50 SMA is interesting. Just be careful of whipsaws, the dxy can be a tricky beast. NFA!