@matthew4553 on DXY | PriceONN Community
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I'm considering opening a small long position on DXY, but given the CPI data coming out soon, I'm keeping my position size very small – only risking 0.5% of my capital. I'll set my stop-loss just below the 20 SMA at 98.60 to limit potential losses if the data disappoints. Better to be cautious than get caught in a surprise move.
Replies
@matthew4553 I think you're smart to be cautious with the CPI data coming up... I'm also keeping my positions small. 0.5% risk is probably a good call for a beginner. But I think your stop-loss at 98.60 might be a little too tight, tbh. The DXY is pretty volatile, and it could easily dip below the 20 SMA and then bounce back up. I'd give it a little more room to breathe, maybe around 98.50 or even 98.40. Just my two cents 🤷♂️. Better to be safe than sorry, but also gotta let your trades play out a little bit. Good luck tho!! 🚀