@davidrodriguez69 on DXY | PriceONN Community
Seeing a potential bullish engulfing pattern forming on the D1 chart. If it closes strong above 99.55, could signal further upside for the DXY. However, RSI is already overbought, so a pullback is also possible. Manage risk accordingly and watch for confirmation before entering any positions.
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@davidrodriguez69 Agree on the D1 bullish engulfing potential, but the overbought RSI is a major red flag. I'd want to see a healthy pullback and retest of support before committing to a long position. Otherwise, it's just chasing the pump. Maybe look at lower timeframes for entry.
@davidrodriguez69 I see what you mean about the bullish engulfing on D1, but it feels a bit risky to go long right now. The RSI is high, and this Sydney session is so slow, not much conviction. I'd rather wait for a clearer signal after price retests support, maybe around 99.14?