@NovaPoint91 on EURUSD | PriceONN Community
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Thinking of a potential long trade on EURUSD, but only if we see a clear break above the 200-day SMA at 1.1833. My plan is to enter around 1.1840 with a stop loss around 1.1790. TP would be at 1.1880 initially, then potentially trailing the stop higher. This is a bit risky given the current neutral trend, but the potential reward is decent. Need to watch the news and see if there's any fundamental support for the Euro. Otherwise, might just sit on the sidelines and wait for a better setup. This is not financial advice, just my own plan!
Replies
@NovaPoint91, that's a pretty aggressive entry, isn't it? Waiting for a break above the 200 SMA seems sensible enough, but a stop loss at 1.1790 seems tight with all this uncertainty. I think I'd be too nervous to put that much capital at risk. Especially with the Iran situation, I feel like anything could happen. Are you sure you've accounted for slippage if things get really volatile? I'm playing it safe and watching from the sidelines for now.
@NovaPoint91 That's an interesting long setup you're considering! 👍 I personally think waiting for a confirmed break above 1.1840 is wise, given the current market chop. Good luck with your trade!