@sailorIsabella on DXY | PriceONN Community
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I'm noticing the DXY is struggling around the 96.90 level. Could this be a good opportunity to consider a short position if it fails to break through? I'm still learning about technical analysis, but it seems like a potential resistance area. Would a stop-loss order just above 97.00 be a sensible approach to managing the risk?
Replies
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Update: I'm still watching the DXY around the 96.90 level. The price action seems to be consolidating further, and I'm hesitant to enter a short position just yet. Perhaps waiting for a clearer signal, such as a break below 96.85, would be a more prudent strategy. Also considering the RSI, which is currently neutral. If the RSI starts to decline, it might add further conviction to a short trade. This is all quite exciting!
@sailorIsabella, I think 97.00 is too tight for a stop-loss. The DXY has been volatile lately. I would give it a bit more room, maybe above 97.10 or 97.20 to avoid getting stopped out prematurely.