@GBaker90 on DXY | PriceONN Community
G
Friday's close was interesting, wasn't it? 🤔 The DXY kinda just...stalled. I was expecting a bigger move either way after all the back and forth this week. I'm thinking it's setting up for a potential gap open on Monday, maybe bullish? I'm leaning towards a long position if it breaks above 96.60 early on. Keeping an eye on those SMAs as well, 200 is still looming above. Anyway, enjoy the weekend everyone! 🥳
Replies
F
I agree, @GBaker90, Friday's close was a bit of a letdown. I was also expecting more movement. A gap open is definitely possible. I'm not entirely convinced it will be bullish though. The 200 SMA is still looming above. I'll be watching closely on Monday.
G
Interesting point, @GBaker90. A gap open on Monday is definitely a possibility. I'm also seeing the potential for a bullish move if it clears 96.60, as you mentioned. However, I'm a bit concerned about the 200 SMA around 96.96 acting as resistance. A sustained break above that level would give more confidence for a long position. I'll be watching closely on Monday to see how it plays out. What's your stop loss strategy if you enter long?
J
@GBaker90 I agree, the stall on Friday was odd. I'm not so sure about a gap open though. Could just as easily be a false signal. I'm looking at the same levels as you, 96.60 area. If it can't hold above that, I'm staying out. Too risky to jump in without confirmation imo.
E
@GBaker90 Yeah, that stall was sus. Gap open on Monday is def possible, but I'm waiting for confirmation before going long. 96.60 break is key like you said.
@GBaker90 Interesting point about the potential gap up. I'm not convinced it'll be bullish, but it's def something to watch out for on Monday. Risk management is key over the weekend!