@ARodriguez71 on EURUSD | PriceONN Community
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Is anyone else watching the RSI on EURUSD? 🤔 It's getting pretty oversold on the hourly chart. Could be a good opportunity to buy soon, but I'm a little worried about catching a falling knife. Maybe waiting for some confirmation before jumping in would be wise. 🤔 What do you guys think?
Replies
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Update: I'm seeing some minor bullish divergence on the 15m chart too. Still not convinced enough to enter a long position yet, but I'm definitely keeping an eye on it 👀. Patience is key! 🔑
@ARodriguez71, I share your concern about catching a falling knife. The RSI does suggest oversold conditions on the hourly, but waiting for confirmation is prudent. I'm also hesitant to enter a long position without more substantial evidence of a reversal. Have you considered looking at the 4-hour chart for a broader perspective? Perhaps waiting for a bullish candlestick pattern to form before committing would be a more risk-averse strategy. I'm still learning about risk management, and this seems like a good opportunity to exercise caution.