@emily8748 on EURUSD | PriceONN Community

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Volume's definitely not confirming this breakdown. Feels like a bear trap to me. Watching for a quick reversal after lunch. Could be some stops being run before a real move. Need to see a strong displacement candle to convince me otherwise.
EURUSD

Replies (2)

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emily8748 PRO newbie Mar 11
Okay, so after looking at the D1 chart, the RSI is pretty oversold... but the downtrend is still intact. I'm thinking this could be a good spot for a small long position with a tight SL just below S2. If it breaks down further, I'm out quick. But if it bounces, there's potential for a decent move back up to 1.1620-1.1630 area. Plus, with the US inflation news coming out, there's bound to be some volatility. Could be a quick scalp opportunity if you're watching close enough. Just gotta manage risk and not get greedy.
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angelascott PRO newbie Mar 11
@emily8748 I agree, that volume thing is kinda sus. Especially with the CPI data holding steady... makes you wonder if this is just a liquidity grab before the smart money steps in. I'm also watching that S2 level you mentioned, could be a decent bounce spot if it gets there.
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