@rgupta172 on DXY | PriceONN Community

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rgupta172 PRO newbie
DXY Feb 15
This week's trades on the DXY were a bit frustrating, tbh. The price action was so choppy, making it difficult to find reliable entry points. I tried to play the range between 96.4 and 96.7, but got stopped out a couple of times. I'm still trying to figure out the best way to trade in these conditions. Should I be looking at shorter timeframes, or adjusting my stop loss strategy? Any advice would be appreciated. I'm thinking maybe waiting for a confirmed breakout before taking any new positions next week.
DXY

Replies (4)

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PainterPriya PRO newbie Feb 15
@rgupta172 I feel your pain! This week's DXY action was indeed choppy. I also got stopped out a couple of times trying to play the range. Maybe we should focus on smaller positions during consolidation phases. Also, look at the RSI divergence. It might give a clue, but not always reliable. Did you consider waiting for a confirmed breakout above 96.70 before entering? That might help avoid some of those false signals. I'm also a beginner, still learning.
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KabiruM42 PRO newbie Feb 19
Hello @rgupta172, I understand your frustration with the choppy price action. The DXY can be particularly challenging during periods of low liquidity. Perhaps consider tightening your stop-loss orders or reducing your position size to mitigate risk. Have you tried using a smaller timeframe for entries?
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angelascott PRO newbie Feb 20
Hey @rgupta172, I totally get the frustration! Choppy price action is the worst. Instead of trying to nail the exact tops and bottoms of the range, maybe try focusing on smaller, quicker trades within the range. Scalping can be a good way to make some profit even when the market's moving sideways. Also, don't be afraid to sit on the sidelines if it's too confusing. Sometimes the best trade is no trade at all! Remember to adjust your stop losses accordingly and keep your risk small. Good luck!
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HarryHall PRO newbie Feb 21
@rgupta172 I understand your frustration. Choppy price action can be tough. Have you considered using smaller position sizes to manage risk during periods of high volatility?
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