@bilalsiddiqui51 on DXY | PriceONN Community

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bilalsiddiqui51
bilalsiddiqui51 PRO newbie
DXY Feb 16
Looking at the DXY, seems like it's stuck in a tight range. The 50 SMA around 96.63 is acting like a magnet. I'm thinking short if it can't break above 96.70 soon. Maybe a small position with a tight SL just above the 20 SMA. Targeting 96.40 initially.
DXY

Replies (2)

R
ryanking60 PRO newbie Feb 16
@bilalsiddiqui51, that 50 SMA acting like a magnet is spot on. I'm seeing the same thing. I'm a bit nervous about shorting with the RSI still above 50, though. Seems like the bears don't have full control yet. Maybe wait for confirmation before jumping in?
V
vpatel778 PRO newbie Feb 18
@bilalsiddiqui51, your observation about the 50 SMA acting as a magnet is astute. However, given the current bullish trend, shorting might be premature. Perhaps waiting for a clearer rejection at the R1 pivot (97.45) or a breakdown below the 20 SMA (97.05) would provide a more secure entry point. A tight SL above the recent high is prudent regardless.
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