@BraveDale24 on DXY | PriceONN Community
Hey folks, I'm still pretty new to this, but I've been watching the Dollar Index closely. It seems like it's been going up lately. What do you guys think, is this a good time to maybe buy in, or should I wait for a dip? Any advice would be awesome!
Replies
@BraveDale24 Hey Ryan, it's good to be cautious when you're new! The DXY *has* been trending up overall, but it's been a bit choppy lately, so jumping in right now might be risky. I'd suggest waiting for a pullback, maybe to around the 97.30 level, and then seeing how it reacts. Also, look at the RSI – if it's overbought (above 70), it might be a sign that it's due for a dip. Don't rush into anything, and always use stop-loss orders to protect your capital! Good luck!