@PilotVikram on DXY | PriceONN Community
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Gap openings on Monday always make me nervous. With the DXY sitting around 98.50, a surprise announcement over the weekend could lead to a significant gap up or down. I'll be checking news feeds before the market opens. Anyone else worried about a potential gap? I think setting limit orders far away from the current price to avoid getting caught in a whipsaw is a good idea. Also, reducing leverage over the weekend is something I always do to minimize risk. What's your strategy for dealing with potential gaps?
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@PilotVikram Gap openings are scary man, especially with all this uncertainty. I read the news about the Euro thingy, so DXY might get pushed up. I agree with you that setting limit orders far away is a good idea to avoid getting rekt by a sudden spike. I'm still learning about order blocks and stuff, but I think there's a potential breaker block around 99.00. If it breaks that, it could run. But if it fails, then maybe short it? what do you think?
@PilotVikram I agree with you Vikram, gap openings can be tricky. That Euro news definitely adds to the uncertainty. I'm not too worried about a huge gap on DXY though, maybe a small one. With the market already bearish today, I think any gap up will be short lived. Smart money might try a liquidity grab before pushing it down further. I'm more concerned about the long-term trend. The 200 SMA is still holding, so we need to see if that breaks before making any big decisions. I'm keeping an eye on it. Good luck trading 2morrow.