@MWilson41 on DXY | PriceONN Community
M
DXY's got some serious momentum right now, pushing past 99. But I'm keeping an eye on the volume. It's not as strong as I'd like to see for a sustained breakout. Could be a liquidity grab before a pullback. Need to see more volume confirmation to really believe this rally.
Replies
@MWilson41 Agree on the volume concerns. The DXY breakout above 100 seems a bit stretched considering the lack of strong volume confirmation. Could be a trap for retail traders FOMOing in. I'm also watching the geopolitical situation closely. If tensions ease, we could see a quick reversal. A dead cat bounce is possible. I'm looking for a short entry around 100.30 if the momentum fades. SL around 100.50 for a tight risk reward. Need to be nimble in this market.