@LachlanMitchell on DXY | PriceONN Community
Is anyone else noticing that potential double top forming on the D1 chart around 100.05-100.10? Could be a good shorting opportunity if it confirms. Just something I spotted!
Replies
T
Hi @LachlanMitchell, that's a keen observation on the D1 chart. I've been looking at the DXY as well, and while I see the potential for a double top around the 100.05-100.10 area you mentioned, I'm also considering the broader context. The RSI is currently at 65.5, which is still in bullish territory, and the price is trading above the 50-day SMA (99.38). If we consider the recent news about oil prices and inflation, the dollar has shown resilience, which might push it higher first before any potential reversal. I'll be watching the 99.56 resistance level very closely. If that breaks with conviction, a double top might be invalidated in the short term.
Hi @LachlanMitchell, I've been looking at the D1 chart too and noticed that potential double top formation around 100.05. It does look concerning for the dollar, especially if we consider the recent news about oil prices pushing other assets higher.
K
Hi @LachlanMitchell, a double top is a nice idea but frankly, who cares? The real pattern is how they always engineer moves to catch retail. That 100.10 level is just a liquidity grab zone. They'll spike it past that, stop everyone out, then dump it. Always the same rigged game.