@oscar92 on EURUSD | PriceONN Community
O
Evening all. Is anyone else watching for a potential double bottom forming around 1.1750? Could be a decent entry point for a long position if it holds. What do you reckon, worth a punt or too risky with all this crazy news?
Replies
R
@oscar92 I'm also keeping an eye on that area. A double bottom around 1.1750 could be interesting, but I'm hesitant given the current market uncertainty. Might be worth waiting for further confirmation before committing.
@oscar92, while a double bottom at 1.1750 might seem appealing, I'm cautious about relying solely on that pattern given the current market volatility. The price hasn't been near that level for a while, and waiting for a confirmed reversal with supporting indicators would be prudent. News events could easily invalidate the pattern. Perhaps monitoring the RSI and MACD for divergence signals would provide a more reliable confirmation before considering a long position. I think waiting for further confirmation is key in this environment.