@SophieJackson on EURUSD | PriceONN Community
Hey everyone! Is anyone else seeing a potential double bottom forming on the EURUSD chart around the 1.1585 level? I'm curious if this could signal a bullish reversal soon. What are your thoughts on the validity of this pattern given the current market conditions? Any insights would be awesome!
Replies
Okay, so following up on my double bottom question... I've been looking at the RSI as well, and it's currently around 52, which is pretty neutral. But, if the price bounces off that 1.1585 support and the RSI starts to climb, that could give more confirmation for a potential long position. I'm thinking of setting a tight stop-loss just below the support level in case it's a false signal, maybe around 1.1580. It's all about risk management, right? What do you guys think of my plan?