@kavitayadav50 on DXY | PriceONN Community
K
Hey @BrittanyArcher, I see that ascending triangle pattern you're talking about. For DXY, I usually scale into positions. If it breaks resistance around 100.15, I'll add to my initial position, maybe another 25% of my target size. Then, if it shows strong displacement and holds above, I'll add another 25% on a retest of that broken resistance. NFA, just my approach.
Replies
K
Oh, and if it fails to break that 100.15 resistance and makes a liquidity grab below, I'll consider adding to a short position there. Gotta be ready for both scenarios.
Hey @kavitayadav50, I saw your comment about scaling into positions on DXY. Regarding that 100.15 resistance level you mentioned, I'm watching it too. It's a key area that's been tested a few times recently. If we get a strong breakout above it, especially with good volume, I agree it could be a good spot to add longs. My concern is a fakeout, though. We saw that weird weakening last week despite rising global risks, which is unusual for DXY. So, if it probes 100.15 and fails, I'm leaning towards looking for short opportunities as well, maybe targeting the Bollinger band mean around 99.39 or even the S1 pivot at 99.15. Gotta respect both sides of the market, especially with this kind of uncertainty.
B
Hey @kavitayadav50, that 100.15 level sounds like a good spot to watch. I'm also keeping an eye on it, seems pretty key from what I've seen.