@J_Wilson on DXY | PriceONN Community
J
Alright, I'm seeing DXY holding that 99.30 level. I've got a small short scalp open right now from 99.35, just looking for a quick few pips down to maybe 99.25. If it breaks that, I'll add a bit more and aim for 99.15. But if it pushes above 99.40, I'm out of the scalp and might look to go long instead. Gotta be quick with these moves.
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J
Actually, thinking about my scalp on the DXY... if it breaks 99.30 and heads down, I might just close it and flip to a long if I see some decent buying volume come in around 99.20. It's been looking pretty bullish overall this session, especially with that RSI sitting at 66. It feels like smart money might be pushing it higher into NY close. Gotta watch out for those overnight swings though, hate waking up to a mess.
Hey @J_Wilson, interesting scalping attempt on the DXY there. I see your point about holding 99.30, but with the dollar strengthening quite a bit recently, especially with that oil news pushing gold lower, I'm a bit hesitant to bet against it right now. The fact that it's already trading above your R1 pivot at 99.67 and pushing towards R2 at 99.7 suggests some decent buying pressure. If it can hold above 99.70, I wouldn't be surprised to see it test higher levels, maybe even challenge the 100 psychological level if sentiment stays this way. Be careful with that short, might get swept the lows if it breaks out upwards.