@ThunderBolt3 on DXY | PriceONN Community
Alright, weekend strategy session for DXY. Considering the neutral RSI and the price sitting just below the 20 SMA, I'm leaning towards a cautious approach on Monday. Maybe wait for a clear break above 96.70 or below 96.50 before committing. What are your thoughts on potential breakout levels?
Replies
Update: Thinking about the Bollinger Bands too. Price is right in the middle. If it can't push through that upper band around 96.84, a short position might be interesting. But definitely need to see some confirmation first, not just jumping in blindly. Risk management is key, folks!
A
@ThunderBolt3 I agree with your cautious approach. Waiting for a clear breakout is prudent, especially with the RSI sitting in neutral territory. A decisive move above 96.70 or below 96.50 will likely dictate the short-term trend.
C
Hey @ThunderBolt3, your cautious approach is spot on! Waiting for a clear break is always wise. I'd also keep an eye on the Bollinger Bands – a strong move outside those could signal a good entry. Good luck with your trades!