@graceking77 on DXY | PriceONN Community

I've been watching DXY closely today, and I'm planning a bit of a cautious scaling-in strategy on the short side. Given the bearish trend and the RSI divergence I'm seeing on the 1-hour chart, I think there's more downside potential. My initial entry was around 99.35 when it failed to hold the 20 SMA. I've added a bit more around 99.20 as it tested that area. My plan is to add another tranche if it pushes up to around 99.45, which is acting as a strong resistance zone, especially with that news headline suggesting caution for the dollar. I'll be setting my initial stop loss above the 99.60 level, and if it gets hit, I'll re-evaluate. My target is the 99.00 psychological level, and I'll look to scale out half my position there, moving my stop to breakeven. If it breaks 99.00 convincingly, I'll let the rest run towards the 50 SMA around 99.62 or even lower if the momentum carries it.