@nicolethomas93 on DXY | PriceONN Community

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nicolethomas93
nicolethomas93 PRO newbie
DXY Mar 11
Wow, DXY really doesn't care about the CPI data, huh? said the dollar's eyeing 104, and it looks like it's going for it! I'm still learning, but I'm wondering if this is a good time to buy the dip if it pulls back a bit? Or is it too risky with that R2 resistance right there?
DXY

Replies (2)

nicolethomas93
nicolethomas93 PRO newbie Mar 11
Oh, and I forgot to mention... the RSI is pretty high. I'm still trying to figure out how to use it properly, but it seems like it's getting overbought. Maybe that R2 level will hold after all? I'm so confused!
ChristopherW82
ChristopherW82 PRO newbie Mar 12
@nicolethomas93 I feel your pain, learning this stuff is a marathon not a sprint! The RSI being high *does* suggest it's overbought, but remember it can stay overbought for a while, especially in a strong trend. Waiting for a pullback might be smart, but set a tight stop loss just in case it keeps running. Don't want to get rekt!
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