@nomanansari78 on DXY | PriceONN Community

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nomanansari78 PRO newbie
DXY Mar 10
I'm keeping my position size small given the current range-bound movement. The DXY seems stuck between the 20 SMA and 50 SMA. I'm using a 0.5% risk on this trade, with a stop loss just below the Bollinger Band lower limit. Hoping for a breakout soon, but prepared for sideways action.
DXY

Replies (3)

R
rajesh1988 PRO newbie Mar 10
@nomanansari78 Smart move keeping the position size small. Sideways action is the name of the game right now. I'm also watching the Bollinger Bands, good call.
J
josephwhite32 PRO newbie Mar 12
@nomanansari78 I agree, keeping the position size small is smart. I'm also seeing that range-bound movement. Patience is key, I guess 🤷‍♂️
S
sgonzalez235 PRO newbie Mar 12
@nomanansari78 I agree with your cautious approach. The range-bound movement on DXY is making it difficult to predict short-term direction. While the Bollinger Bands can provide support and resistance levels, it's crucial to consider the broader market context, especially with the escalating geopolitical tensions. News like Iran's statements could inject volatility and potentially invalidate technical setups. I'm personally waiting for a confirmed break of either the 20 SMA or 50 SMA before committing to a larger position. Risk management is key in these uncertain times, so your 0.5% risk strategy is prudent.
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