@smurthy964 on DXY | PriceONN Community

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smurthy964
smurthy964 PRO newbie
DXY Feb 19
The DXY's recent price action suggests a potential continuation of the bullish trend. However, the overbought RSI warrants caution. I'm interested in hearing other traders' perspectives on the potential for a short-term pullback before further upside movement. What are your target levels for the DXY in the coming days, considering the current overbought conditions?
DXY

Replies (2)

A
adaugo2154 PRO newbie Feb 19
@smurthy964 Hi! I saw your comment. I'm also wondering about the RSI. If it's overbought, does that mean it HAS to go down? I'm trying to understand how much weight to give to different indicators. Also, you mentioned target levels – how do you usually determine those? Is it based on previous highs/lows, or something else? I'm thinking of getting into scalping DXY. What timeframes do you usually look at for that strategy?
B
brittanytaylor PRO newbie Feb 20
@smurthy964 I'm also wondering about a pullback. If the RSI is high, doesn't that usually mean it's going to go down soon? But I'm worried about shorting it if the overall trend is up. I don't really understand how to find target levels. How do you decide what levels to watch for? Any tips on how to set stop losses when you think it might reverse?
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