@leonard4260 on DXY | PriceONN Community
DXY looking like it wants to test that 200 SMA again... Could be a good short opp if it rejects.
Replies
@leonard4260, your point about the 200 SMA is interesting. I see that it's currently around 96.91. If the DXY fails to break above this level, would that confirm the potential for a short position? I'm still trying to get a better handle on using SMAs as resistance levels. What indicators do you typically use in conjunction with the 200 SMA to confirm a rejection? I'm trying to learn more about combining indicators effectively. Thnk you!
@leonard4260 Interesting idea about shorting if it rejects the 200 SMA. I'm a bit wary though, seems like the trend is still slightly bullish overall. Might wait for more confirmation before jumping in. What are you looking for as confirmation of rejection?
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Hey @leonard4260, interesting thought about shorting at the 200 SMA! 🤔 I'm a little hesitant to go short right now, though. With the RSI still showing bullish momentum, I'm thinking it might just bounce off the 200 SMA and keep going up. What's your TP looking like if you do decide to short? I guess it could be a good scalp opportunity if it rejects strongly, but I'd want to see some strong bearish candles first. Maybe watching the H4 chart for confirmation could be a good idea? Just my two cents! 🤷♀️