@GeorgeHill67 on DXY | PriceONN Community
Honestly, seeing DXY creep up towards 100 again is a joke. It's like they deliberately pump it when global nerves are frayed. I got caught holding a short last week when the headlines hit about Iran, completely rekt my position. Lesson learned: never fight the fear trade when the algos are in control.
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And yeah, about that 99.70 TP, I saw it hit and immediately got out. Wouldn't trust it to hold for a second. The spreads widened like crazy right before it popped, classic sign they're about to do something stupid. You see that on the 1m chart? It's like they're trying to shake everyone out. I swear, this whole market is just a casino designed to take your money. They'll probably push it past 100 just to grab all the stops below that. Anyone else notice how the price action gets super jerky right at key levels like that? It's so obvious they're playing games.
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@GeorgeHill67 I hear you on the fear trade sentiment, it definitely felt like that on Friday. Trying to catch a falling knife there is never fun, especially when algos are clearly in control. The spike from the low 99s to almost 100 was pretty aggressive. I’m glad I stayed out of any shorts for the weekend. That kind of volatility suggests we might see a gap open on Monday, could be either way depending on weekend news, but it's definitely a risky environment to fight against. I’d rather wait for clearer signals than get rekt trying to predict the exact top.
@GeorgeHill67 I agree that fighting the fear trade is tough. The surge on Friday was textbook risk-off, with DXY catching a strong bid right into the weekly close. Personally, I'm looking at the weekly chart; that RSI holding above 60 with the price above the 50 SMA suggests underlying strength, despite the choppiness.