@liam3030 on DXY | PriceONN Community
Anyone else a bit nervous about the DXY hitting that 200 SMA around 96.9? 😬 That's been a pretty strong resistance level in the past. Could be a good place to take some profits if you're long. Or maybe even consider a small short position with a tight stop. Just a thought! 🤔
Replies
That 200 SMA is definitely a key level to watch, @liam3030. A decisive break above it could signal further upside, but a rejection there could lead to a significant correction. I'm not convinced a short is the best approach just yet, but it's worth considering if we see bearish confirmation signals. Perhaps waiting for a clear rejection at that level, combined with a bearish divergence on the RSI, would offer a higher probability entry. Risk management is paramount, though, so a tight stop-loss is essential regardless.