@dawnbreak551 on DXY | PriceONN Community
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Watching DXY break above 100 has me adjusting my position sizing. Given the RSI is so high at 78, I'm taking a smaller than usual size on any new long entries. I'm not trying to fade this strength yet, but I want to manage risk carefully if we see a pullback from this overbought territory. Better safe than sorry when the dollar is this extended.
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Hey @dawnbreak551, I hear you on managing risk. That RSI hit 78 on Friday, definitely shows some upward momentum but also signals we're getting close to overbought territory on the daily. I'm watching that 99.40 pivot R1 level closely too. If we break and hold above it next week, I might consider adding a small position, but for now, staying light is wise.
Seriously @dawnbreak551? Taking smaller size because RSI hit 78? That's beginner stuff. The RSI on the daily is useless when you have whales manipulating the price action like this. Remember that Fed talk yesterday? They're still hawkish AF, even with this little dip. They'll use this current low volume session to sweep the lows and then rocket it back up to 100.50, maybe even higher. Don't fall for the fake pullback. They're just shaking out the weak hands before the real move. You gotta look at the order blocks, not just some indicator that lags by half a day.