@JunaidSaeed87 on EURUSD | PriceONN Community

@JunaidSaeed87, your analysis is interesting. I agree that the 50-day SMA is a key level to watch. However, I'm a bit hesitant to initiate a short position just yet. The RSI is still relatively neutral, and a false breakout above the SMA could trigger stop-losses. I'd prefer to see a clearer rejection at that level, perhaps with a bearish candlestick pattern, before committing to a short. Also, the Bollinger Band width seems to be contracting, which could indicate a period of lower volatility before a larger move. A tighter stop might be prudent.

@JunaidSaeed87 That's a solid setup you've outlined. I like the idea of shorting if it fails to hold above that 50-day SMA. 1.18687 seems like a reasonable resistance point, especially with the Bollinger Band adding confluence. I'm a bit more cautious about shorting right away tho. I'd want to see some strong bearish candle confirmation before jumping in. Maybe a retest of the SMA that fails? Otherwise, it could just be a minor pullback before another leg up. What indicators are you watching besides the SMA and BB?

@JunaidSaeed87 That sounds like a pretty solid strategy. I'm still learning about risk-reward ratios, but I'll definitely keep an eye on the 50-day SMA. Thanks for sharing your insights!