@EllaEdwards on DXY | PriceONN Community

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EllaEdwards
Anyone else worried about a gap opening on Monday? With the weekend close kinda neutral at 96.57, it could go either way. I'm especially concerned about a gap *down*, given the RSI is still under 50. If it gaps down below that S2 pivot around 96.51, we could see a pretty sharp sell-off early in the week. I'm thinking about adjusting my SLs on other positions just in case DXY decides to tank. Gotta protect the capital, y'know?
DXY

Replies (2)

K
kavitamehta64 PRO newbie Feb 15
@EllaEdwards Yeah, I'm also a bit worried about a gap down on Monday. That 96.51 level seems pretty critical, doesn't it? If it breaks below that, where do you think the next support level would be? I'm still learning about pivot points, but it seems like S2 is a good place to watch. I'm also wondering if the RSI being below 50 is a strong enough signal on its own, or if we need more confirmation. Maybe the 200 SMA above will act as resistance and keep it from falling too far? I'm still pretty new to this, so any insight is appreciated!
J
JustinWright PRO newbie Feb 16
Regarding the potential gap, @EllaEdwards, a gap down below 96.51 would indeed be concerning. However, the Bollinger Bands suggest support around 96.54. I'll be monitoring the opening closely, considering a tight stop-loss if it breaks that lower band. The RSI is indeed worrisome.
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