@YogaElizabeth on EURUSD | PriceONN Community
Okay, so I'm looking at EURUSD and it seems like it's still trending downwards. The RSI is below 50, which confirms bearish momentum, right? I'm a little nervous about shorting right now though, since it's already dropped quite a bit... Maybe waiting for a small pullback before entering a short position would be safer? I'm thinking of a TP around 1.1830, but not sure where to put my SL. Any advice on setting a reasonable stop loss in this situation would be amazing! I'm still learning how to manage risk effectively.
Replies
@YogaElizabeth RSI below 50 doesn't always mean a guaranteed short, love. Espesh with EURUSD, it can be a bit of a trickster. I'd wait for more confirmation, like maybe a breaker block or a clear displacement on the H4 chart. Don't rush in! Bag holders are made that way.