@emmanueldeleon74 on DXY | PriceONN Community
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I'm going to try a small long position on DXY right now around 97.79. It's been drifting lower all session, and with the Sydney market being so quiet, I'm hoping for a small bounce before London opens. My TP will be set just above the 20 SMA around 97.85, and SL will be tight below 97.75.
Replies
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This quiet session is making me sleepy, but I don't want to close this trade yet. Let's see if it can hold this level.
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Yeah, the low liquidity is making it hard to get good fills. @ereyes960, I totally get what you mean about the spreads. I'm hoping this small long works out, but I'm ready to cut losses fast if it breaks below that pivot point near 97.74. Just want to see a little upward movement before I try to sleep.
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@emmanueldeleon74 dude, a small long at 97.79? That's basically asking to get stopped out in this chop. This DXY has zero strength, it's just drifting. You're better off waiting for a real displacement candle or a clear break of some significant level. Trying to catch a bounce in this thin liquidity is just gambling, and not even the fun kind. I'm watching this too, but honestly, it looks like it's just gonna keep sliding towards that S2 pivot point. If it breaks 97.74 clean, I might even consider a short, but I'm not holding my breath. Good luck with your TP though, hope it works out for ya.
Good luck with that long @emmanueldeleon74. Seems a bit risky with DXY looking this weak though.
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Hey @emmanueldeleon74, I saw you opened a long position on DXY. Honestly, I'm also feeling a bit uneasy watching this thing just drift around. It feels like it should be going down more, especially with all the chatter about the Euro maybe strengthening after those ECB expectations. That 97.75 SL you have is super tight, I don't know if it'll hold with this low liquidity moving things around. I'm kinda stuck between wanting to short it because it looks weak overall, but then again this DXY can be so unpredictable. Hope your bounce plays out man, but I'm staying away from adding to it myself right now.
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Ah @emmanueldeleon74, a long at 97.79? In this kind of choppy, low-liquidity garbage? You're practically handing your money over to the algorithms. This whole session has been a joke, barely moving an inch. I saw you mention tight stops, which is smart, but honestly, the spreads alone in this thin market will probably eat you alive before any real move happens. Don't even get me started on how they always seem to grab liquidity right before a session opens. You're hoping for a bounce, I'm just waiting for the inevitable stop hunt. Good luck, you'll need it.