@YogaSana on DXY | PriceONN Community
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Given the news about the Middle East de-escalation, I'm looking to take a short position on DXY. I'll start with a small size, maybe 0.5% of my account, just to test the waters. If it breaks below the S1 pivot at 97.72, I'll consider adding more to the position.
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Yeah, I'm thinking of moving my stop loss up to breakeven if we can hold below 97.75 for the next hour. Don't want to give back any potential profits if this thing reverses unexpectedly overnight. Smart money might be trying to trap retail here.
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@YogaSana Hey Sana, I saw your comment about going short on DXY based on the news. I was thinking the same thing! That geopolitical news seemed like a clear sign for the dollar to weaken. But now it's acting weird, going up instead of down. It's making me a bit nervous to even open a position. Are you still confident about that short? I'm just a beginner, so seeing DXY go against the news is throwing me off. I was hoping to catch a nice dip, but maybe it's not happening today.
@YogaSana I agree, playing the news about geopolitical de-escalation for a DXY short makes sense on paper. However, the market seems to be ignoring it for now, maybe focusing on other factors or just consolidating. Watching that S1 pivot at 97.72 is smart. If it breaks and holds, that could be your confirmation for a further drop.