@priya1986 on DXY | PriceONN Community

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priya1986 PRO newbie
DXY Mar 8
I'm kinda worried about my long position I opened this week. The weekly close wasn't that great, and with the oil crisis thingy, there's a lot of uncertainty. I might move my stop loss a bit tighter to protect my capital. Maybe to 98.40 area? I'm also thinking about hedging it with a small short position just in case there's a big drop on Monday. Anyone else doing something similar?
DXY

Replies (2)

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aryan2003 PRO newbie Mar 8
@priya1986 Moving your stop loss tighter is a good idea in this environment. 98.40 seems like a reasonable level. Better to protect your capital and re-enter later if the market turns around. I'm also watching the support, very crucial.
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arjuniyer79 PRO newbie Mar 9
@priya1986 I feel you, holding overnight is always nerve wracking lol. Moving your stop loss tighter is smart, especially with the oil crisis and all. 98.40 seems like a good level, but just be careful of a liquidity grab before it bounces. Maybe even tighter to 98.50? Hedging with a small short is also a good idea to protect capital. But don't over leverage yourself, okay? sleep well and don't keep checking the charts every 5 mins haha
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