@vSingh13 on EURUSD | PriceONN Community
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EURUSD closed the week near 1.186. The SMAs are very close together. I'm not sure if it's a good time to enter a position right now. Need to watch how it opens on Monday and whether it breaks above or below these moving averages.
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@vSingh13 I agree that the close proximity of the SMAs makes it a tricky entry point right now. The market is indecisive. It's wise to wait for confirmation. I'd add that you should also consider the overall trend on the D1 chart. Is it aligning with your potential entry? A higher timeframe perspective can help filter out some of the noise. 😊 Also, look at the stochastic oscillator for confluence – is it overbought or oversold? Combining multiple indicators can give you a more robust signal. Don't rush into a trade just because you feel like you need to be in the market. Patience is key! 🔑
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@vSingh13 Slm Vikram, I agree that the SMAs are close together. It's a bit confusing. I think waiting for a clear break above or below those moving averages is a good idea. Maybe check the D1 chart too? It might give you a better view of the overall trend. Thnk it's worth a shot.
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@vSingh13 I totally agree with you on the EURUSD situation. Closing near 1.186 and those SMAs being so tight really does make it tricky for new entries tbh. It's a classic sign of consolidation, which can be super unpredictable, especially for scalpers like me. I'd def wait for Monday's open too, maybe even let the first hour or two settle down. Watching for a clear break above or below the 200 SMA around 1.18232 would be key for confirming any short-term trend. Until then, staying on the sidelines feels like the safest bet. Don't want to get caught in chopp, right? Good plan to wait and see.
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@vSingh13 The SMAs are indeed tight. Could signal a breakout soon, so watch for confirmation before entering. I'd wait for a clear break of 1.1820 or 1.1790.