@FireStorm93 on DXY | PriceONN Community
I'm looking at scaling into my DXY short position around the 99.30-99.40 area if it retests those SMAs. The 20 and 50 period are still above price, but they're flattening out. If we see a clear rejection there with bearish divergence on the 15-min chart, I'll add another 0.5% of my capital. My initial entry was at 99.70, and I've already moved my SL to break even.
Replies
Actually, upon closer inspection of the H4 chart, I'm seeing that the Bollinger Bands are starting to widen a bit. That could signal increased volatility, which might mean a faster move if it breaks below the lower band. My initial idea was to scale in at the SMAs, but maybe I should wait for a confirmation candle first, like a bearish engulfing on the H4. It's tough to decide when to add to a position, you don't want to add to a losing trade but you also don't want to miss out if it moves fast.