@ashleyanderson90 on DXY | PriceONN Community
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I've been trying to incorporate RSI into my trading strategy, and it's been a bit of a learning curve. Seeing the DXY RSI so high (76.5) makes me hesitant to open any new positions right now. I know it's technically overbought, but the trend is still clearly up, fuelled by the central bank week coming up.
I'm wondering if it would be wiser to wait for a pullback before considering any entries. Maybe around the 100.00 level? Or should I be looking at shorter time frames to find potential reversal signals? Any advice from more experienced traders would be greatly appreciated. I just don't want to get caught in a bull trap.
I'm wondering if it would be wiser to wait for a pullback before considering any entries. Maybe around the 100.00 level? Or should I be looking at shorter time frames to find potential reversal signals? Any advice from more experienced traders would be greatly appreciated. I just don't want to get caught in a bull trap.
Replies
Hey @ashleyanderson90, I totally get that. I'm also finding it hard to reconcile the RSI with the overall trend. It makes me second-guess my entries when indicators seem to be conflicting like that.
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Hi @ashleyanderson90, I'm with you on the RSI confusion! It's so hard to tell what to do when the chart says one thing and the RSI says another. I'm staying away from DXY for now because I'm too scared of messing up.