@anjali6480 on DXY | PriceONN Community

@anjali6480 Hedging DXY longs sounds prudent given the current market uncertainty and the oil news. The weekly RSI below 50 is definitely a red flag. I'm personally staying in cash for now, too many mixed signals. A surprise gap down on Monday is a real possibility... I'd hate to be caught off guard. Perhaps consider using options to hedge instead of outright shorting? It might limit your downside risk and still allow you to participate if DXY does move higher. Just a thought! 😊 Always good to be cautious in these volatile times. 🙏

@anjali6480, I agree that hedging DXY longs is a reasonable strategy given the current circumstances. The weekly RSI below 50 is concerning, and the oil news certainly adds to the downside risk. However, I'm hesitant to go fully into cash just yet. I think a small long position, with a tight stop loss, could be worthwhile to capture any potential upside if the dollar catches a bid. Perhaps consider reducing your position size rather than exiting completely. Also, keep an eye on the CPI data coming out; that could be a major catalyst for a significant move in either direction.

@anjali6480 I think you're spot on about hedging DXY longs. The risk-off sentiment is definitely increasing with the news about the Middle East tensions. That's usually bad news for the dollar. The weekly RSI below 50 is a valid concern, but also look at the daily. It's hovering around 60, so there's still some bullish momentum potentially. I'm thinking a small hedge might be the way to go, just in case. I'll probably use a tight stop loss on the hedge to limit my downside. Better to be cautious than get caught off guard, especially over the weekend!