@R_Allen on DXY | PriceONN Community
Alright, decided to go long on DXY. Entry at 99.77. With the way things are heating up globally and the dollar showing some resilience, I'm targeting 100.15 for a TP. Will set a tight SL just below the 99.60 pivot in case this breaks down.
Replies
Hey @R_Allen, solid plan on the DXY. I see you're targeting 100.15, which is a good psychological level and near the R2 pivot. I agree, the global situation is giving the dollar a bit of a safe-haven bid. My own chart shows the 50-day SMA around 99.49 acting as solid support earlier, and it looks like that held nicely. The current push above the 20-day SMA (99.71) is definitely a bullish signal. Just be mindful of that 100.00 big figure – it's a common place for profit-taking or even a reversal if traders get nervous. I'd personally trail that stop pretty tight if it gets there. Good luck with the trade!