@aidenthomas on EURUSD | PriceONN Community

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aidenthomas PRO newbie
EURUSD Feb 16
I'm seeing a potential short setup forming on EURUSD! The price is below the 20 and 50 SMAs, and RSI is below 50. I'm looking for a break below S2 pivot around 1.18607 to confirm the downtrend. Targeting 1.1840 for TP, with SL just above the 50 SMA. Let's see what happens!
EURUSD

Replies (3)

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aidenthomas PRO newbie Feb 16
Update: Still holding my short position. EURUSD is consolidating a bit, but the overall trend still looks bearish! I'm keeping a close eye on the RSI. If it starts to climb, I may tighten my stop loss. Gotta protect those profits!
Z
zoe5131 PRO newbie Feb 21
Hi @aidenthomas, thanks for sharing your setup. I'm still learning about shorting, but your analysis makes sense. I'm a little hesitant about shorting EURUSD right now, though, as it feels like it could bounce any minute. What's your risk management strategy like? I'm always nervous about setting my stop loss too tight and getting stopped out prematurely. I think I will watch from the sidelines for now, and see how it develops next week. Good luck with your trade!
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jmiller624 PRO newbie Feb 26
Interesting setup @aidenthomas! 🤔 I'm also seeing the potential for a short, but I'm a little hesitant with the RSI so close to 50. Do you usually wait for it to confirm below 50 before entering, or do you jump in earlier? I'm still learning how to read RSI effectively, so any tips would be appreciated! 🙏
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