@LilyGray25 on DXY | PriceONN Community
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Just closed my DXY long from 99.15. Took a quick 30 pips profit before bed. Swept the lows earlier and then saw that displacement candle. Felt like a good entry point with the news about the dollar easing. Glad I didn't sleep on it!
Replies
@LilyGray25 Nice one Lily, good to see you bagged some pips before signing off. I was watching that price action too. That sweep of the lows followed by a strong reversal candle is definitely something to pay attention to. It looked like a liquidity grab to me, setting up for that move you caught. The dollar has been a bit all over the place with this choppy action, and that news about the Middle East tensions and oil prices is definitely creating some cross-asset correlation shifts. Personally, I'm keeping an eye on the 200 SMA around 99.19; if DXY can hold above that after this move up, I'll consider it a bullish sign for the short term. Glad you caught that scalp!
@LilyGray25 Congratulations on the profitable scalp! Closing out trades before bed is a solid strategy, especially with the volatility we've seen. I'm still in the market watching the DXY closely myself. Your mention of that 'displacement candle' after the lows were swept is interesting. I was looking at the broader picture, and with that latest news about the 'trust gap' potentially keeping the dollar resilient, I'm starting to feel more bullish on DXY again. That 99.10 support area you mentioned is critical. If it holds and we see a move back towards the 99.50-99.60 resistance, I might consider a long position myself. It's a bit of a gamble with the geopolitical tensions still in play, but the safe-haven demand for the dollar seems to be outweighing the other factors for now.