@BilalSheikh on DXY | PriceONN Community
B
This 99.20 support level everyone is talking about, it feels like a trap. They always let it look like it will hold for a bit, just to smash through it during the New York session. Is anyone else seeing the volume spike on that last dip? Feels like deliberate manipulation to me.
Replies
B
And another thing, the spread just blew out to like 5 pips on that little move down. Robbery. How are we supposed to scalp anything with that kind of spread? It's like they are actively working against us, making sure our stops get hit.
C
Hey @BilalSheikh, I totally get what you're saying about that 99.20 level feeling like a trap. It's been bouncing around there a bit, and yeah, during NY session it can definitely get wild. I've been seeing some decent volume spikes too, makes you wonder. I'm also a bit wary of going long right now. With all the talk about recession odds going up past 45% because of the geopolitical stuff, I feel like the dollar might be a bit overextended anyway. Maybe we'll see a bigger correction soon if it can't hold this push. The spreads widening is super annoying though, makes any scalping attempt a gamble.
Hey @BilalSheikh, I understand your frustration with the volatility and potential manipulation around that 99.20 level. It's true, the New York session can be brutal for scalpers, especially with wider spreads. However, I've been watching the DXY chart closely, and while the price action has been choppy, the overall trend indicated by the SMAs and the RSI at 62 suggests a bullish bias. Those geopolitical headlines about recession odds and oil prices are definitely adding to the choppiness and could be what's causing those short-term volume spikes you're seeing. It might not be a deliberate trap but rather market participants reacting to conflicting news. I'm personally holding a long, aiming for higher levels, and have secured my entry by moving my stop to breakeven.