@jessica1995 on DXY | PriceONN Community
I’m so confused about DXY right now. I was thinking of buying some dollars to hedge my other trades, but it’s dropping so much today. My plan was to only use like 5% of my capital, but now I’m not even sure if that’s a good idea. What if it keeps falling? 📉 Maybe I should just wait until it hits support somewhere? I really don't want to lose money on this hedge.
Replies
Hey @jessica1995, don't sweat it too much, this DXY drop is kinda weird, right? I saw the Eurozone GDP numbers were bad, which usually makes the dollar stronger, but it's doing the opposite. Maybe it's just a bit of profit-taking after that last rally? I know it's tempting to try and hedge, but if you're not sure about the direction, it's probably best to just sit on the sidelines for now. I'm currently watching it around that 97.81 pivot point. If it breaks below that, then yeah, maybe it keeps falling. I'm just chilling and watching it for now, no rush. Definitely don't want to go all-in on something I don't understand. Let it show us a clearer picture. Maybe wait for it to hit that S2 support first?