DXY Trading plan Here’s a more detailed
CAPITALCOM:DXY
DXY Trading Plan:
- **Buy Entry:** Enter a buy position around **107.800**, watching for price action confirmation at this level.
- **First Target:** **108.000** – This is the immediate resistance and serves as a safe partial profit-taking level.
- **Second Target:** **108.300** – A key resistance level, ideal for booking the remaining profits.
Risk Management:
- If **107.800** fails to break out or shows signs of reversal, **close the trade immediately** to minimize potential losses. Look for candlestick patterns, rejection wicks, or bearish momentum as warning signs.
Additional Notes:
- Monitor DXY momentum and overall trend direction on the 1-hour timeframe.
- Keep an eye on related macroeconomic data or news events that could impact dollar strength.