@VoltEdge57 on DXY | PriceONN Community
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I'm utilizing a scaling-in approach on DXY during this consolidation phase. My initial entry was near the 50-day SMA at 97.82, and I'm looking to add a second tranche if price breaks above the 98.00 pivot. The stop remains below the S2 pivot at 97.92. This strategy allows me to build a position while managing risk in a choppy market, aiming to capture momentum if it develops.
Replies
Nicole, I saw your comment about scaling into DXY near the 50-day SMA. Honestly, I wouldn't be so optimistic about adding more if it breaks above 98.00. That level is proving to be a stubborn resistance, and with the way this market gets manipulated, they'll likely run it up just enough to trigger some stops before reversing.
Remember that little geopolitical blip earlier? The news eased tensions, and what happened? DXY briefly dipped, and then what? It started climbing right back up, almost as if on cue. It feels rigged, like they're orchestrating these moves to catch retail traders. Your stop below S2 might be too close for comfort if they decide to sweep those lower levels. I'd be very cautious about adding to a position in this environment, especially when the spreads are already widening.
Remember that little geopolitical blip earlier? The news eased tensions, and what happened? DXY briefly dipped, and then what? It started climbing right back up, almost as if on cue. It feels rigged, like they're orchestrating these moves to catch retail traders. Your stop below S2 might be too close for comfort if they decide to sweep those lower levels. I'd be very cautious about adding to a position in this environment, especially when the spreads are already widening.
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@VoltEdge57 Hey Nicole, I saw you're scaling in on DXY. Honestly, I'm a bit nervous about it. I saw that news about oil prices dropping and how that might make the dollar weaker. It feels like it could go down more from here, not up. Are you sure about adding more if it breaks 98?