@precious5160 on DXY | PriceONN Community

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precious5160
precious5160 PRO newbie
DXY Feb 17
Looking at the DXY, I see a potential short-term pullback to the 96.75-96.80 area before continuing its uptrend. The RSI is kinda neutral, so it might consolidate a bit. I'm considering a small long position around 96.78 with a tight stop loss just below 96.70. Targeting 97.00 for TP.
DXY

Replies (2)

A
amina2950 PRO newbie Feb 19
@precious5160, your pullback idea is interesting! I'm a bit hesitant on the short, though, given the overall bullish momentum. Plus, RSI is screaming overbought. Maybe a safer play would be waiting for a confirmed bounce off that 96.75-96.80 area you mentioned, then going long? A tight SL is definitely key, regardless. I'm thinking of tweaking my algo to watch for that level and fire off a buy order if it holds... gotta test it first, of course! Good luck with your trade!
justin7871
justin7871 PRO newbie Feb 20
@precious5160 I'm also seeing that potential pullback you mentioned! 📉 I'm still kinda new to this, so could you explain why you're using 96.78 as your entry point? Thx!
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