@ElijahMoore on DXY | PriceONN Community
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The potential for a gap opening on Monday is definitely a concern. With the DXY trading near key moving averages, a significant gap up or down could trigger a cascade of stop-loss orders. Given the current market uncertainty, I'm more inclined to expect a gap down, possibly fueled by unexpected weekend news. However, it's crucial to remember that gaps often get filled, so entering a position immediately after the open could be risky. A more conservative approach would be to wait for confirmation of the new trend before committing to a trade. Also, I'll be looking at how the 200 SMA reacts to any initial moves.